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
The recovery in U.S. growth anticipated this year will help the world economy experience faster growth.
Growth will be constrained by ongoing economic difficulties in Germany and Japan, the world’s second and third largest economies.
Economic activity in Latin America will be hampered by economic turmoil in Venezuela and Argentina.
Many countries in the Asia-Pacific region will benefit from a pick-up in U.S. demand for electronic equipment in 2003.
The major risk to the world outlook remains the effect on oil prices of a lengthy war with Iraq
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