Chapter II. The World Economy

Anonymous

National Institute Economic Review, 1976, vol. 76, 25-44

Abstract: Output in the OECD area both last year and in the early part of 1976 now appears to have been higher than we previously supposed. It now looks as though it should increase in the aggregate by about 5 per cent both this year and next after falling by only 1½ per cent in 1975. For industrial production alone, which last year declined by 8 per cent, we expect a rise of 9–10 per cent in 1976. Business investment is still at a low ebb, but rebuilding of stocks will make an important contribution this year and demand from the personal sector has strengthened markedly both for housing and for consumer goods and services.

Date: 1976
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