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Review of the quarter's economic trends [January 1977]

Bell, David N. F. and Carruth, Alan A. and Danson, Michael W. and Duignan, John and Glassford, M. E. and Kirwan, Frank X. and Simpson, David R. F. and Wingfield, Alison A. (1977) Review of the quarter's economic trends [January 1977]. Quarterly Economic Commentary, 2 (3). pp. 1-6. ISSN 0306-7866

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Abstract

There is now ample evidence that the pace of recovery in the major economies slackened during 1976. Published statistics, however, are as yet inadequate to document the full extent of the slowdown or to assert that it was a transient phenomenon. Available evidence would suggest that the growth in the major economies in 1977 may be somewhat slower than had earlier been forecast, and that in the short run further reductions in unemployment and inflation rates may be very difficult to achieve. Several threads may be drawn together in an attempt to justify this interpretation of likely future developments.