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Section II. Prospects for North America and Japan

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  • Pain, Nigel

Abstract

Recent economic data indicate that the momentum of the present cyclical expansion in the United States continues to be stronger than widely expected at the beginning of last year. GDP is provisionally estimated to have risen by around 3¾ per cent in 1998, with domestic demand rising by 5 per cent. The last three years have all now seen output growth of 3½-4 per cent with high resource utilisation but low, and declining, price inflation.

Suggested Citation

  • Pain, Nigel, 1999. "Section II. Prospects for North America and Japan," National Institute Economic Review, National Institute of Economic and Social Research, vol. 167, pages 41-49, January.
    • Handle: RePEc:cup:nierev:v:167:y:1999:i::p:41-49_7
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