AUSTRALIA

Continued Economic Stagnation: Australia’s economy, mired in a two-year slump, may grow some but will not emerge from recession in 1992, according to a leading monitor of that country’s economic affairs. Melbourne University’s Institute of Applied Economic and Social Research said the recession would not deepen during the first half of 1992, but said Australians could expect “only slow growth or widespread stagnation” in the months ahead. The forecast is based partly on an institute index that showed negligible growth in the 10-month period ending in October. Economic activity increased between March and September, but stalled in October, the institute said.