The world economy is now clearly moving into recession. Industrial output in the United States, having risen by 9.7% between 1st quarter 1978 and 1st quarter 1979, fell back in the first three months of 1980, with production in March 1.5% below the level of the same month in 1979. The UK economy has entered a recession whose depth and intensity are likely to exceed the corresponding characteristics of the 1974-75 downturn.
|Number of pages||5|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - Jul 1980|
- unemployment forecasts
- world economic performance
- UK economic conditions