The world economy [August 1986]

Love, James and Boyle, Stephen and Draper, Paul and Harrigan, Frank and Heeley, John and Jenkins, Iain and Lockyer, Cliff and Love, Jim H and McGregor, Peter and McNicolI, Iain and Simpson, David and Walker, Jim (1986) The world economy [August 1986]. Quarterly Economic Commentary, 12 (1). pp. 3-8. ISSN 2046-5378

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Abstract

Developments throughout the first half of 1986 were dominated by the falls in the price of oil and the further deceleration of the US economy. Although output growth has slowed in the major industrial economies, the effects of lower oil prices have reduced inflation rates and helped bring interest rates down, thus improving prospects for the world economy later this year and in 1987. The fall in oil prices may well be reversed, however, following the recent signs of greater cohesion among OPEC members.

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