The world economy [March 1992]

This brief article provides an analysis of key world economic trends based on recent data. GDP growth in the major industrialised countries showed
a slight further decline in the third quarter of 1991. Comparing the third quarter with the corresponding period in the previous year, average growth in the G7
countries was 0.5%. This compares with 1.1% for the year to the first quarter of 1991 and 2.3% for the calendar year 1990. As with the previous quarter,
German GDP showed a sharp fall, falling below 2% for the year to September. Individual country growth rates were as follows (Q3 1991 on Q3 1990): Canada -0.8%; US -0.9%; Japan 4.2%; France 1.4%; Germany 1.9%; Italy 0.9%; UK -2.2%.
Industrial production did, however, show some recovery in the second half of the year.