Abstract
The aim of the WER is to provide authoritative and objective analysis and commentary on the Welsh economy, and regional economies in general, in a manner that promotes understanding and informs decision-making. The intended audience includes academics, economic development practitioners, policy-makers, and anyone with an interest in the Welsh economy and/or regional economics.
Highlights
World economic growth was strong during 2005
Whilst economic growth in the United States slowed in the last quarter of 2005, the US economy has been relatively resilient against the impacts of the hurricanes and problems in energy supplies
Growth in Asian economies has been maintained with economic growth in the Japanese economy appearing to be well established
Summary
World economic growth was strong during 2005. Whilst economic growth in the United States slowed in the last quarter of 2005, the US economy has been relatively resilient against the impacts of the hurricanes and problems in energy supplies. Growth in Asian economies has been maintained with economic growth in the Japanese economy appearing to be well established. The economic signals coming from continental Europe are mixed, with output still below potential levels. Most countries have been able to maintain underlying price and wage stability despite the recent high fuel prices
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