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The world economy [December 1988]

Ashcroft, Brian and Love, Jim and Boyle, Stephen and Draper, Paul and Dunlop, Stewart and Grehan, Janet and Harrigan, Frank and Heeley, John and Lockyer, Cliff and Malloy, Eleanor and Monaghan, Claire and McGregor, Peter and McNicolI, Iain and Perman, Roger and Stevens, Jim (1988) The world economy [December 1988]. Quarterly Economic Commentary, 14 (2). pp. 1-5. ISSN 2046-5378

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Abstract

The buoyancy of the main economies continues. Investment now appears to be the principal driving force behind the current robust performance of the world economy. Growth of GNP is generally expected to be around 4% this year, a full one percentage point, and more, higher than expectations at the beginning of the year. Nevertheless, growth should decline next year due to a tightening by key governments of both fiscal and monetary policies in response to increasing inflationary pressure.