World Economic Prospects.

The article presents an outlook for the world economy in 2008. Because of the continued impact of the credit crunch, the flow of economic news over February 2008 has mostly pointed towards weaker growth. The U.S. growth forecast for the first half of 2008 has been downgraded because of a series of weak indicators on employment, chain store sales and service activity. In the Eurozone, the growth forecast for 2008 has been revised from 1.7% to 2%, reflecting a deteriorating outlook in the main Mediterranean economies.