Review of the quarter's economic trends [January 1981]

D.N.F. Bell, D. Hamilton, F. Harrigan, A. Jowett, F. Kirwan, J. McGilvray, N. O'Donnell, I. Orton, D. Simpson, E. Tait, J. Walker, A. Wingfield

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    Abstract

    The UK recession has intensified. Belying earlier forecasts the current downturn is proving more severe and probably more prolonged than its precursor of 1974-75. The overall level of outputs is estimated to have fallen by 2.5 - 3 % during the past year. A further, though less marked, fall is predicted for 1981, with at best a hesitant recovery emerging in the latter half of the year. Global macroeconomic trends are examined as well as labour market conditions.
    Original languageEnglish
    Pages (from-to)1-4
    Number of pages4
    JournalQuarterly Economic Commentary
    Volume6
    Issue number3
    Publication statusPublished - Jan 1981

    Keywords

    • global economic conditions
    • world economic output
    • UK economic trends
    • global oil prices
    • industrial performance
    • UK gross domestic product (GDP)

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    Bell, D. N. F., Hamilton, D., Harrigan, F., Jowett, A., Kirwan, F., McGilvray, J., ... Wingfield, A. (1981). Review of the quarter's economic trends [January 1981]. Quarterly Economic Commentary, 6(3), 1-4.