Summary [April 1977]

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., Fraser of Allander Institute (1977) Summary [April 1977]. Quarterly Economic Commentary, 2 (4). p. 35. ISSN 0306-7866

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The initial recovery from the 1974-75 recession in Germany, Japan and the United States has lost much of its momentum. It is likely that the growth of world output and of international trade will be slower in 1977 than i t was last year. Failure of the major countries to agree on co-ordinated action may consign many of the European economies to an extended period of stagnation.