The U.S. economy continues to expand, although its future course is uncertain. Personal spending is increasing. Capital investment has slowed down in reaction to the sharp increase in the July-September quarter. The growth in housing investment has been slackening. Employment is rising.
Prices are generally stable.
In Western Europe, the French and U.K. economies are expanding, while the German economy is also expanding, albeit gradually. The unemployment rates have declined in France and declined slightly in Germany, although they still remain at high levels. Turning to East Asia, the pace of economic growth is slowing in China, and consumer prices rose. Both exports and imports are rising sharply in China. The South Korean economy is expanding.