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WORLD OUTLOOK
Author(s) -
Dicks Geoffrey
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.tb00252.x
Subject(s) - recession , quarter (canadian coin) , rest (music) , economics , great recession , keynesian economics , geography , medicine , archaeology , cardiology
Although world output recovered strongly in the final quarter of 1980 from the short, sharp recession of the middle of the year, we do not believe that a sustainable recovery has yet begun. We expect little or no growth in output for the rest of 1981 with the likelihood of a further contraction in the current quarter. For the European economies, whose performance has been very similar to the 1974/75 recession, the worst has probably now passed. But for the United States a new period of weakness may now be beginning. For the US a W‐shaped recession remains the most likely outturn.