Note: Real GDP growth and world trade growth (the arithmetic average of world merchandise import and export volumes) are seasonally and working-day adjusted annualised rates. The "fourth quarter" columns are expressed in year-on-year growth rates where appropriate and in levels otherwise. Interest rates are for the United States: the upper bound of the target Federal Funds rate; Japan: the Bank of Japan uncollateralised overnight call rate; euro area: the ECB main refinancing rate. The cut-off date for information used in the compilation of the projections is 30 October 2015. 1. USA;price index for personal consumption expenditure, Japan; consumer price index and the euro area, harmonised index of consumer prices 2. Per cent of the labour force 3. Per cent of GDP.
展开▼
