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G8 leaders upbeat about world economy

Leaders from the Group of Eight (G8) major industrialized nations appeared upbeat about the world economy as they gathered for their annual summit Thursday.

„We note that the world economy is in good condition,” the leaders said in a statement after their second-day meeting in Germany's Baltic sea resort of Heiligendamm. „Growth is now more balanced across regions, as it has moderated to a more sustainable pace in the United States, while domestic demand has strengthened in Europe and remains supported by robust investment in Japan,” the statement said.

The G8 groups the United States, Britain, Germany, France, Italy, Japan, Canada and Russia. Altogether, the eight industrialized countries account for 63% of the world's GDP and 50% of worldwide trade in goods. The G8 leaders kicked off their three-day summit Wednesday. Under the theme of „Growth and Responsibility,” economic issues took center stage as the talks entered the second day. (