Christmas: economic recovery is stalling. (IISI)
Metal Center News, November, 2002
The global economic picture is clouded with great uncertainty and makes it nearly impossible to predict economic developments over the next two years with any degree of accuracy, reported Ian Christmas, secretary general of the International Iron and Steel Institute.
Speaking at IISI's 36th annual conference in Rome Oct. 9, Christmas presented the latest forecast of the IISI Committee on Economic Studies on the Apparent Consumption of Finished Steel Products for 2002 and 2003.
"Events and expectations are changing rapidly," he said. "At the moment, I have the impression that the economic recovery is stalling and forecasts for the rest of the year and next year should be revised downwards."
IISI projects world GDP growth of 1.7 percent for 2002 and...
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