Global Economy Set to Recover in the Industrialised Countries and Accelerate in the Other Country Groups. Medium-term Projections from 2003 to 2008
With interest rates kept low and taxes strongly reduced, monetary and fiscal policies in the USA are expected to remain on an expansive course in 2004. This will strengthen the economic upswing but will also accentuate the disequilibria in the US economy: in 2004, both the budget deficit and the current account deficit are envisaged to increase to at least 5 percent of GDP. For this reason, the USA will pursue a slightly restrictive course after the 2004 election year. Interest rates will probably be raised to 3.0 percent in 2005, and measures to consolidate the budget should dampen final demand, reducing the rate of growth to 2.3 percent by 2006, although the economy should then take an upturn again, and to 3.0 percent in 2008. In the medium run, the USA will thus manage an economic growth of 2.9 percent p.a. for the period of 2003-2008.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 77 (2004)
Issue (Month): 2 (February)
|Contact details of provider:|| Postal: Arsenal Object 20, A-1030 Wien|
Phone: (+43 1) 798 26 01-0
Fax: (+43 1) 798 93 86
Web page: http://www.wifo.ac.at/
More information through EDIRC
|Order Information:|| Postal: Austrian Institute of Economic Research Publikationsverkauf und Abonnentenbetreuung Arsenal, Objekt 20 A-1030 Vienna/Austria|
When requesting a correction, please mention this item's handle: RePEc:wfo:monber:y:2004:i:2:p:99-107. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilse Schulz)
If references are entirely missing, you can add them using this form.