chapter two international and domestic trends 2 1 introduction the purpose of this is to present a qualitative where justified quantitative discussion on growth development will provide reader with contextual understanding potential outlook for in free state global economy strengthening broadening economic recovery 2003 has resulted an upward revision anticipated rates 2004 2005 improvement prospects supported by sharp increases industrial production world trade business consumer confidence most regions strong investment gross product gdp achieved average annualised almost 6 second half due largely tax cut induced spending mortgage refinancing united states post sars severe acute respiratory syndrome asia while level unlikely be sustained going forward improvements outlined above should support output around 4 5 both year however pace nature
