Summary [April 1976]

Alan Carruth, N. O'Sullivan, Fraser of Allander Institute

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While different countries are now emerging from the recession at different rates, there are unmistakable signs of a slow but steady recovery in world trade and production. Particularly substantial evidence of progress is coming from the United States and West Germany, the stimulus in both countries coming largely from an increase in consumer spending. It is clear that the monetary authorities' in both countries are following a policy of cautious expansion, which is calculated to further moderate the rate of domestic price increases. It seems unlikely, however, that
unemployment will fall much below its present high levels before the end of the year.
Original languageEnglish
Pages (from-to)1-2
Number of pages2
JournalQuarterly Economic Commentary
Issue number4
Publication statusPublished - Apr 1976


  • world economic trends
  • UK economic conditions
  • Scottish economy
  • unemployment patterns


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