In terms of the outlook, the U.S. economy is expected to continue expanding on the back of a steady improvement in the employment and income situation, supported by expansionary fiscal policy, although moderate policy rate hikes by the Federal Reserve are expected to continue.
As for the European economy, the pace of economic growth decelerated somewhat, due mainly to the appreciation of the euro and weather conditions throughout the January-March quarter of 2018. It decelerated further in the April-June quarter, although production has been increasing as a trend, and the overall economy is expected to continue its recovery.