The global economy continues to show an upward trend - albeit at a slower pace - for the eighth year running, although performance differs considerably from country to country. What is the outlook for 1990 as a whole?

After the price of oil began falling sharply during the first few months of 1986 the prospects for a more pronounced and long-lasting economic upswing in the industrialised countries were generally regarded as having improved. The increase in demand and production in 1986, however, was more...