mpc: 27 The international economy also continued to be relatively strong. In the euro area, indicators had
pointed to growth at or above trend in the near term. In the United States, economic growth continued
to be robust, although there appeared to be some downside risks to activity should consumption growth
slow with the housing market. Overall, UK trade-weighted world import growth had been at least as
strong as projected in the February
Inflation Report and global demand growth looked set to remain
robust in 2006. The Bank's regional Agents had suggested that exporters were optimistic about their
immediate prospects.
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