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World at a glance: Where are we now?

机译:世界一目了然:我们现在在哪里?

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In the first quarter of this year, economic indicators for the US, European and Japanese economies were all showing healthy growth levels, as can be seen from the chart opposite. And although expectations were for a knock-on slowing of growth in the second quarter, the actual depth of the slowdown was deeper than expected. Initially this slowing of economic activity was not expected to continue through into the third quarter, however current indications are that it has. We aim to explore the key variables that could affect global economic growth and metals demand for the rest of this year.Since the beginning of the year, industrial production in the US has shown positive growth, which has helped improve metals demand, albeit it only marginally. However just recently, the rate of expansion in the sector has begun to slow. In Europe growth in the sector has been mixed, while in Japan over the last two months it has declined. This does not bode well for future end-use metals demand since industrial production is a key indicator of this. For the reminder of 2002, assuming that the US does not experience a double-dip recession, we would expect industrial production in the US to continue growing, but at a subdued pace.
机译:从相反的图表可以看出,今年第一季度,美国,欧洲和日本经济的经济指标均显示出健康的增长水平。尽管对第二季度经济增长的连锁反应有所预期,但实际放缓幅度比预期要深。最初,这种经济活动的放缓预计不会持续到第三季度,但是目前的迹象表明这种情况已经发生。我们的目标是探索可能影响今年余下时间全球经济增长和金属需求的关键变量。自年初以来,美国的工业生产显示出正增长,这有助于改善金属需求,尽管只是很少。但是,就在最近,该行业的扩张速度已经开始放缓。在欧洲,该部门的增长喜忧参半,而在日本,过去两个月的增长率却有所下降。这对于未来的最终用途金属需求而言并不是一个好兆头,因为工业生产是一个关键指标。回顾2002年,假设美国没有经历两次衰退,我们预计美国的工业生产将继续增长,但步伐将放缓。

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