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The contrast is striking between the US economy, which currently seems able to generate self-sustaining growth, and the European and Japanese economies, which despite large-scale stimuli are still posting disappointing performance. In United States, it is undoubtedly private consumption which is mainly driving recovery. Housing and productive investment are also upbeat, while currently low energy prices are also giving an extra little boost.
For 2015, Crédit Agricole's economists are forecasting a slight acceleration in global growth, at 3.2% compared with 2.9% in 2014. Where will the additional growth come from? What about the rest of the world? Will the contrast between the United ...
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