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THE ECONOMY AT A TURNING POINT
Publication year - 1981
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1981.tb00251.x
Subject(s) - turning point , economics , point (geometry) , economy , economic recovery , world economy , macroeconomics , political science , period (music) , physics , geometry , mathematics , acoustics , law
In this Forecast Release we assess the evidence from the economic indicators and the latest official statistics for the view that the economy is at a turning point. We conclude that, while last year's rapid decline in UK output is coming to an end, a broadly‐based recovery of the UK economy is unlikely until the world economy starts to grow again. The business surveys suggest that the upturn in European economy is less well established than the UK recovery. It may also be delayed further by high interest rates. The world turning point is thus likely to be some months later than die UK turning point, despite the strong upswing in the US. This implies that the UK recovery could be somewhat hesitant in the coming months.