P. M. BRIEFING : GATT Sees Slow Economic Growth
GENEVA — World economic growth will slow in 1990, with below-average growth rates expected in the United States, Britain and Canada, the General Agreement on Tariffs and Trade forecast today.
World production and global merchandise trade will expand in real terms this year by 2% and 7% respectively, GATT Director General Arthur Dunkel said in his annual report.
Inflation in the developed industrialized countries will reach an expected 4.5% for 1989, up from 3.5% in 1988, Dunkel said.
Economic growth will continue in 1990 for the eighth consecutive year, he said, but “at a somewhat slower rate than in 1989.”
Western Europe and Asia will provide the strongest impetus to overall economic growth in 1990, the report said.
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