Western Europe is enjoying an economic recovery that, for all its modesty, promises to accelerate this year and endure well into 1987. And, thanks to falling oil and commodity prices, inflation is expected to drop further. That was the encouraging assessment presented by TIME's European Board of Economists at its twice-yearly meeting, which was held this time in Madrid to mark Spain's and Portugal's entrance into the European Community.
Despite a declining dollar on world currency markets, which makes foreign products more expensive in the U.S., Western Europe's trade surplus is expected to rise from last year's $25 billion to $40...
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