Summary [July 1977]

Bell, David N. F. and Bulmer-Thomas, Victor and Carruth, Alan A. and Danson, Michael W. and Duignan, John and Glassford, M. E. and Kirwan, Frank X. and McGilvray, James W. and Simpson, David R. F. and Wingfield, Alison A., Fraser of Allander Institute (1977) Summary [July 1977]. Quarterly Economic Commentary, 3 (1). p. 28. ISSN 0306-7866

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For most of the industrialised countries of the world, the first half of 1977 has been a period of relatively slow growth, and very slow adjustment towards the objectives of price stability and full employment. In the United States, however, a stronger recovery is evident: GNP is expected to grow by 5% in 1977, and by perhaps a similar amount in 1978.