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Current Economic and Monetary Trends
The global economy continues to grow at a moderate pace and with substantial differences across regions. The 1st half of the year was a little weaker than expected at the turn of the year. Overall, the US economy grew in the 1st half of 2014. Economic development was weaker in the euro area, especially in the large member states, i.e. Germany, France and Italy. The German economy slowed down slightly in the spring following strong growth at the beginning of the year, but Greece, Portugal and Spain all saw growth, which they had not done previously. The emerging economies continued to grow. In the 2nd half of 2014 and in 2015 growth in the global economy is expected to accelerate, although the outlook has been adjusted downwards a little in the international organisations’ most recent projections.