The World economy [December 1993]

McFarland, Mark and Anthony, Myrvin and Armstrong, Lorraine and Ashcroft, Brian and Draper, Paul and Dunlop, Stewart and Le Tissier, Sarah and Lockyer, Cliff and Malloy, Eleanor and McGregor, Peter and McNicoll, Iain and McRory, Eric and Reid, Clare and Smith, R and Stevens, Jim and Swales, Kim and Yin, Ya Ping, Fraser of Allander Institute (1993) The World economy [December 1993]. Quarterly Economic Commentary, 19 (2). pp. 1-2. ISSN 0306-7866

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Abstract

Little has changed on the International horizon since the last edition of the Quarterly economic Commentary. Activity in the major seven countries is at best very weak. Recovery has continued at a slow pace in the United States and in Europe the situation is still very uncertain. In the second quarter activity in France remained unchanged and in Western Germany the components of demand remained very weak indeed. In fact, in the second quarter the worst performance came from the Japanese economy. Activity actually fell, even after considerable fiscal injections in the last 12-18 months.

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