Summary [July 1975]

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

Summary [July 1975]

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

Economics

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Abstract

Since late 1973 the international economy has been dominated by the oil crisis and by parallel rises in the prices of other primary commodities. Most industrialised countries have reacted to these changes in the terms of trade by domestic deflation; unemployment has risen sharply in the OECD countries, while gross product declined and world trade levelled off. All countries have suffered substantial inflation, though with varying degrees of severity. This brief paper summarises world, UK and Scottish economic conditions in the quarter to July 1975.

Original language	English
Pages (from-to)	3-4
Number of pages	2
Journal	Quarterly Economic Commentary
Volume	1
Issue number	1
Publication status	Published - Jul 1975

Keywords

global economic trends
UK economic conditions

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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Cite this

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title = "Summary [July 1975]",

abstract = "Since late 1973 the international economy has been dominated by the oil crisis and by parallel rises in the prices of other primary commodities. Most industrialised countries have reacted to these changes in the terms of trade by domestic deflation; unemployment has risen sharply in the OECD countries, while gross product declined and world trade levelled off. All countries have suffered substantial inflation, though with varying degrees of severity. This brief paper summarises world, UK and Scottish economic conditions in the quarter to July 1975.",

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AU - Simpson, David R. F.

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N2 - Since late 1973 the international economy has been dominated by the oil crisis and by parallel rises in the prices of other primary commodities. Most industrialised countries have reacted to these changes in the terms of trade by domestic deflation; unemployment has risen sharply in the OECD countries, while gross product declined and world trade levelled off. All countries have suffered substantial inflation, though with varying degrees of severity. This brief paper summarises world, UK and Scottish economic conditions in the quarter to July 1975.

AB - Since late 1973 the international economy has been dominated by the oil crisis and by parallel rises in the prices of other primary commodities. Most industrialised countries have reacted to these changes in the terms of trade by domestic deflation; unemployment has risen sharply in the OECD countries, while gross product declined and world trade levelled off. All countries have suffered substantial inflation, though with varying degrees of severity. This brief paper summarises world, UK and Scottish economic conditions in the quarter to July 1975.

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KW - UK economic conditions

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UR - http://www.strath.ac.uk/fraser/

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Summary [July 1975]

Abstract

Keywords

UN SDGs

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