This quarterly examination of the short-term economic outlook for the world’s major economies also contains an in-depth analysis of a number of issues that are relevant for understanding world economic trends and developments.
Document Highlights
World economic activity will pick up in the second half of this year as the uncertainty created by the war with Iraq subsides.
A revival in business investment spending as well as solid export growth will lead to real U.S.GDP growth of 2.5 per cent in 2003.
Weak economic conditions in Germany and Japan will continue to constrain world economic activity in the near-term.
With the exception of Japan,growth in most Asia Pacific countries will be solid this year due to renewed demand for electronic products in the United States.
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