Don't bet on it. Expansion is coming from increased infrastructure spending. While consumers are saving rather than spending, deflation may just be export prices adjusting in lieu of devaluation. That could come next year. Overcapacity is being tackled in coal, textiles, chemicals, engineering and steel.
Banking remains a mess but restructuring there is continuing.
Sales to Korea, Thailand and Malaysia are picking up. Overall exports are likely to fall this year but will grow in 2000. The 15-member E.U.'s big economies have been slowing, despite aggressive rate cuts by the European Central Bank. But the easier monetary policy is helping and an uptick is near. France and Italy will post steady growth.