Although less dramatic, the rise in youth unemployment in Italy and Portugal has been considerable. However, at the same time some countries have experienced only moderate increases in the youth unemployment rate, and in Germany it has actually fallen from 11% to 8%.
In Europe, prospects for stronger growth now look better than they did a few months back. Even for the troubled Japanese economy, next year should be brighter. Forecasts for a number of emerging-market economies, particularly in Asia, have also been revised up.