摘要：The world economy performed exceptionally well in 2004. According to estimates by the International Monetary Fund (IMF), growth stood at around 5 percent, the highest rate of expansion in nearly 30 years, and was accompanied by a surge in international trade. In several countries, this performance was supported by accommodative macroeconomic policies and a notable improvement in economic fundamentals. Private investment was triggered by increased corporate profits and low interest rates. The economic expansion also stimulated job creation and improved labor market conditions in various countries. This in turn boosted private consumption. All of these factors helped limit the economic impact of the recent oil price surges, thus keeping inflation at a moderate level.
