The expansion of Western European production accelerated in the first half of 1997. Exports were the main engine, driven by a devaluation of European currencies and strong growth abroad. Domestic demand also picked up somewhat led by investment in machinery and equipment. Inflation remained at...

The global economy continued to recover in the winter semester, despite the number of new infections with the coronavirus rising sharply and containment measures tightened again in many countries. Industrial production and world trade have already fully catched up with activity levels before the...

The global economy has expanded at a very moderate pace so far in 2023, but stayed clear of the recession predicted by many for the advanced economies as a result of the massive tightening of monetary policy. In the United States in particular, the economy is proving surprisingly robust. By...

In the fall of 1999, the recovery in Euroland is back on track. The turnaround was caused by the improvement in the world economy. After exports had been depressed in the past winter due to the weak demand in the crisis countries particularly in Asia, the impulses from abroad have picked up...

Stage Three of the European Monetary Union (EMU) will start on January 1, 1999. The new currency area, for which the name "Euroland" has been coined, will comprise 11 countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. The...

The economic recovery in the euro area lost momentum in 2004. After a strong increase during the first half, real GDP rose at an annual rate of less than 1 percent in the following two quarters. Overall capacity utilization, which had increased in the first half of 2004 for the first time in...