Thursday, July 14, 2005

Sucks to be European 

...wherein output growth is projected to slow noticeably.:
On unchanged policies and with population ageing the euro area's potential output growth is set to decelerate over the next decades and eventually stabilises at around one per cent per annum by about 2020...
That would be down from the current rate of 1.6-1.8% per year. Mahalanobis notes this would widen the income gap with the United States.