General review [October 1975]

David N. F. Bell, James W. McGilvray, Andrew J. Oswald, David R. F. Simpson, Fraser of Allander Institute

Research output: Contribution to journalArticle

Abstract

At present it is difficult to form a generally agreed view on what has happened during the last six months to the world economy. It is impossible to establish an agreed view of what will happen in the next six months. The debate and the uncertainty centre round the current recession in world trade. There is no argument that the current recession is the most severe to be experienced since the last war.
The problem lies in forecasting how and when recovery will take place. In the last issue of the Commentary (July 1975 page 12), we pointed out that, while the UK had so far postponed the necessary internal adjustment of the economy, it could not expect to escape it. This prediction has now been confirmed by the fall in GDP in the second quarter of 1975.
LanguageEnglish
Pages3-6
Number of pages4
JournalQuarterly Economic Commentary
Volume1
Issue number2
Publication statusPublished - Jul 1975

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Recession
World trade
World economy
Prediction
Uncertainty

Keywords

  • global economic trends
  • UK economic conditions
  • Scottish economy
  • world trade
  • economic uncertainty
  • recession

Cite this

Fraser of Allander Institute (1975). General review [October 1975]. Quarterly Economic Commentary, 1(2), 3-6.
Fraser of Allander Institute. / General review [October 1975]. In: Quarterly Economic Commentary. 1975 ; Vol. 1, No. 2. pp. 3-6.
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Fraser of Allander Institute 1975, 'General review [October 1975]' Quarterly Economic Commentary, vol. 1, no. 2, pp. 3-6.

General review [October 1975]. / Fraser of Allander Institute.

In: Quarterly Economic Commentary, Vol. 1, No. 2, 07.1975, p. 3-6.

Research output: Contribution to journalArticle

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Fraser of Allander Institute. General review [October 1975]. Quarterly Economic Commentary. 1975 Jul;1(2):3-6.