Picture map of Europe with pins indicating European capital cities

Open Access research with a European policy impact...

The Strathprints institutional repository is a digital archive of University of Strathclyde's Open Access research outputs. Strathprints provides access to thousands of Open Access research papers by Strathclyde researchers, including by researchers from the European Policies Research Centre (EPRC).

EPRC is a leading institute in Europe for comparative research on public policy, with a particular focus on regional development policies. Spanning 30 European countries, EPRC research programmes have a strong emphasis on applied research and knowledge exchange, including the provision of policy advice to EU institutions and national and sub-national government authorities throughout Europe.

Explore research outputs by the European Policies Research Centre...

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

Bell, D N F and Danson, M W and Duignan, J and Glassford, M E and Kirwan, F X and McGilvray, J W and Simpson, D R F and Wingfield, Alison A. (1977) Review of the quarter's economic trends [October 1977]. Quarterly Economic Commentary, 3 (2). pp. 1-7. ISSN 0306-7866

[img]
Preview
PDF (FEC_3_2_1977_Economic_Trends)
FEC_3_2_1977_Economic_Trends.pdf - Final Published Version

Download (412kB) | Preview

Abstract

The present position and outlook might be depicted as follows. The recovery can be considered to be reasonably well established in the US, which alone in the developed world has seen a strong revival in business fixed investment. It is also the only major economy where unemployment, currently averaging 7% of the civilian labour force, seems unlikely to rise further in the next year. Real GDP growth is likely to be of the order of 5% annually during both 1977 and 1978. The current account of the balance of payments seems set to remain in substantial deficit up to the middle of next year. As this brief analysis will show this in part reflects substantial oil imports, and so its effects on the trade balance of the developed world may not be large.