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.
|Number of pages||4|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - Jan 1981|
- global economic conditions
- world economic output
- UK economic trends
- global oil prices
- industrial performance
- UK gross domestic product (GDP)
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.