Economic and financial indicators.

This section presents an overview of economic and financial indicators. The dollar reached its highest level against the euro for almost seven months. The dollar kept its strength despite a Treasury report showing that foreigners' appetite for American assets ebbed in March. Japan's GDP grew in the first quarter, according to preliminary estimates, much faster than expected. A large part of this growth was due to a surge in consumer spending. In Britain, consumer prices increased by in the year to April, having increased at the same pace in the year to March. Since 1995, labour productivity in America has grown yearly. This is a striking improvement on previous performance, and owes much to advances in information technology (IT). Most big European economies have failed, so far, to match America's record in using IT to boost efficiency. Far from accelerating, productivity growth in the European Union has decelerated over the same period.