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International Economic Outlook
Academic journal article from The Journal of Business Forecasting Methods & Systems, Vol. 16, No. 2
Beginning of article
I. Developments and Prospects of Integration in the European Union
The growth of output in the group of industrial countries is likely this year to reach its long-term potential of about 3% because of an expected strong acceleration of growth in Europe and an exceptionally rapid expansion in the United States in the first quarter. Although the US growth is forecast to substantially slowdown in the second half of this year, acceleration of growth in Europe will result in an overall rate of expansion in the industrial countries of 2.7-3.0% during 1997-98. European economic growth is expected to accelerate from 1.6% in 1996 to 2.8% in 1997 and 3.2% in 1998. Japan, which continues to …
