Indexes that are used to track worldwide economic growth point to steady expansion over the coming year, The Conference Board reported.
The board's monthly International Economic Scoreboard is compiled from leading economic performance indexes of the top 10 industrial countries.The composite index for these nations grew at an annual rate of 4 percent on the most recent scoreboard, the same as three months ago, the board said.
Leading indexes are used to project future economic conditions for a given country. Performance indexes track current activity in the economy.
Edgar R. Fiedler, vice president and economic counselor for the group of top business executives, said the worldwide economy should continue to expand during the coming year.
"Global economic prospects look reasonably favorable as we near the end of 1988," he said. "Nowhere among the latest growth rates is a negative number to be found."
The board reported that companies in the Pacific region continued to post the most rapid growth.
Leading indexes in Taiwan showed an annual growth rate of 15 percent.
Korea's indicators expanded 9 percent, while Australian indexes revealed an advance of 8 percent and Japan showed a growth rate of 5 percent.
France's economy grew fastest among the European countries, expanding at a rate of 8 percent.
In Italy, the leading index rose 8 percent; in West Germany, 4 percent; and in the United Kingdom, 1 percent.
Leading indexes for both Canada and the United States grew at an annual rate of 2 percent.