96 it did experience some economic growth but fell in a concretionary phase in 1997 and a trough a year after in 1998. In the next to years it experienced some economic growth but not enough to keep them up to par with the other two countries. Unfortunately at the moment Japan is experiencing negative economic growth which has forced in another trough. Only time will tell how they will come out of this one.
             EURO AREA: The Euro Area has experienced economic between a low of 1.4 in 1996 and 3.7 in 2000. I can't say that they tend to follow the other countries trends but in 2001 they followed with a drastic drop of 2% as the other two countries also experienced a dropped in economic growth. Another good thing about the Euro area is that they have not experienced any negative economic growth within these 8 years. At the last reading the Euro Area had an annual growth of 1.7%, which was relatively higher than the other two countries researched.
             Table showing Annual Growth from 1994 to 2001 9965848T
             1994 1995 1996 1997 1998 1999 2000 2001
             JAPAN 1.1 1.4 3.6 1.9 -1.2 0.7 2.4 -0.5
             EURO AREA 2.2 2.2 1.4 2.4 3 2.8 3.7 1.7
             Graph showing Annual Growth from 1994 to 2001
             b) "No two business cycles are identical" Explain this statement with reference to your answer in a) above.
             "No two business cycles are identical" This stat
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