Source Pravda.Ru

EU to grow 1.2% in 2002

Private consumption is expected to see the European Union through the worst of its economic crisis, as analysts predict a growth rate of 1.2% for the current year.

According to the European Forecasting Network, private consumer habits are a basic factor in the economic recovery of the European Union, after a period of stagnation. This organism, co-financed by the European Commission, forecasts that consumer growth will continue during the year at 1.8%, translated into a growth rate of 2.2% for 2003.

Retail commerce and industrial development are also showing signs of recovery in various EU countries, while it is believed that inflation should not rise above the 2% benchmark imposed by the European Central Bank. The instability of oil prices will prove a deciding factor as to whether the rate maintains throughout 2003 or rises slightly, as feared by some analysts.

Consumer confidence indices point towards a 0.6% rise over the final quarter of 2001, while certain indicators are less optimistic, namely the figures regarding private sector investment, which predict that this sector should fall 1.4% in 2002 and will not recover fully until 2004, whereas unemployment should remain stable at 8.4%, falling to 8.1% in 2003.

John ASHTEAD PRAVDA.Ru LONDON UNITED KINGDOM

On December 10, 1948 the Universal Declaration of Human Rights was adopted by the United Nations General Assembly, its thirty articles enshrining basic and fundamental rights guaranteeing dignity of the human person and equality for all, regardless of race, color, creed or gender. A pipe dream?

Human Rights Day: Let us hang our heads in shame
Comments
Turkish President Erdogan issues ultimatum to Washington and Brussels
Putin makes first comment on Trump's Jerusalem decision
Putin: Russian servicemen return home from Syria as victors
Putin: Russian servicemen return home from Syria as victors
Putin makes first comment on Trump's Jerusalem decision
Turkish President Erdogan issues ultimatum to Washington and Brussels
Ugly Christmas tree in Kiev's center shocks Ukrainians
Pentagon can not accept Russia's victory over terrorists in Syria
Putin makes first comment on Trump's Jerusalem decision
Russian general says allegations of his involvement in MH17 crash are stupid
Viktor Yanukovych speaks about Maidan snipers and Donbas civil war
Viktor Yanukovych speaks about Maidan snipers and Donbas civil war
Mikhail Saakashvili's bumpy ride in politics: From chewing his tie to climbing on rooftop
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
USA looking for reason to see nuclear weapons in action
Russian general says allegations of his involvement in MH17 crash are stupid
Russian general says allegations of his involvement in MH17 crash are stupid
Pentagon can not accept Russia's victory over terrorists in Syria
Human Rights Day: Let us hang our heads in shame
USA looking for reason to see nuclear weapons in action