Economic Growth Slows in Europe: The world’s...

Economic Growth Slows in Europe: The world’s leading industrial nations--with the exception of Germany--are expected to suffer economic declines in 1991 as credit tightens around the globe and trade subsides, the Conference Board said. Data shows the leading economic indicators are flat or declining in nine of the world’s top 11 industrial nations. Conference Board Chief Economist Gail Fosler predicted growth in Japan will be about 3.5%; France, as little as 2% to 2.5%; Canada and Australia are expected to register economic declines, while the verdict on Britain is still out. Among factors influencing the decline are slowing investment growth and consumer spending in Europe; high interest rates and a falling stock market in Japan, and banking, finance and real estate problems in many countries.