Economic activity in the euro area has weakened since last summer. In the second half of 2002, real GDP increased at an annualized rate of around 1 percent only. Economy-wide capacity utilization has further declined and the situation on labor markets has worsened. The increase in consumer...

The economic situation in the euro area continues to be weak. In the course of 2003, real GDP has only stagnated. Several factors prevented the expected recovery to materialize. Last year’s collapse of stock prices dampened activity, so did the high oil price. In addition, the uncertainty in...

In the second quarter of 2017, global output has reaccelerated after a somewhat muted start into the year. For the first time in a number of years, there is substantial economic momentum in almost all major economies at the same time. We expect world GDP growth on a PPP basis to rise to 3.7...