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Review of the quarter's economic trends [October 1976]

Bell, David N. F. and Carruth, Alan A. and Danson, Michael W. and McGilvray, James W. and Simpson, David R. F. and Wingfield, A. A. (1976) Review of the quarter's economic trends [October 1976]. Quarterly Economic Commentary, 2 (2). pp. 1-6. ISSN 0306-7866

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Abstract

The leading economies have now reached a stage where many economists and policy makers are questioning the staying power of the recovery. Following the first quarter surge of activity reported in our last Commentary, the second quarter of 1976 brought a marked slowing down in the growth of industrial production particularly in the US, and the latest indications are that this slowdown has continued into the third quarter. Much of the initial impetus out of recession stemmed from the turnaround in stockbuilding, but this adjustment of stocks would now seem to be largely completed.