Developments throughout the first half of 1986 were dominated by the falls in the price of oil and the further deceleration of the US economy. Although output growth has slowed in the major industrial economies, the effects of lower oil prices have reduced inflation rates and helped bring interest rates down, thus improving prospects for the world economy later this year and in 1987. The fall in oil prices may well be reversed, however, following the recent signs of greater cohesion among OPEC members.
|Number of pages||6|
|Journal||Quarterly Economic Commentary|
|Publication status||Published - 1 Aug 1986|
- Fraser of Allander
- world economic activity
- world economic condition