The expansion isn't over; it will continue, but at a slower pace. Thus was the message from many economists, industry analysts, and economic reports at the end of the third quarter of 2000. Most suggested that the economy in 2001 will remain healthy, experiencing a gradual slowing while continuing to expand.Although economic forecasting is not an exact science, the wealth of information that is available allows industry experts and economists to make informed predictions and educated guesses about future economic activity.According to the "World Economic Outlook" (WEO), a detailed report published in early October by the International Monetary Fund (www.imf.org), the global economy is expected to grow by 4.7 percent. Meanwhile, the U.S. gross domestic product (GDP) is expected to continue to grow, but at a substantially reduced rate-approximately 3.2 percent.The economic growth of Canada is expected to cool off to 2.8 percent. In the euro area, growth of approximately 3.4 percent is expected; elsewhere in Europe, growth is expected to range from 2.1 (Denmark) to 3.4 percent (Sweden). The economy of Japan is expected to continue to recover from the crisis of 1998: growth is forecast at about 1.8 percent.
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