Further, although the feeling of stringent corporate financing has been mitigated, stagnancy in lending by private financial institutions continues. The U.S. economy has continued to expand, although its future course is uncertain. Personal spending and capital investments are increasing. Housing investment has decreased. Employment is rising.
Prices are generally stable.
In Western Europe, the German economy is improving gradually while the French economy is expanding moderately and the economy of the United Kingdom is also improving. Industrial production is moving sideways in Germany but rising in France and the United Kingdom. The unemployment rate remains almost unchanged in Germany, is declining slightly in France, although still at a high level, and remains at a low level in the United Kingdom. Prices are stable. Turning to East Asia, the pace of economic growth is slowing in China, and prices are declining.