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Chapter II. The World Economy

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  • Anonymous

Abstract

The growth of US GNP, which in the first quarter was responsible for the greater part of an increase of the order of 1½ per cent in the output of the whole OECD area, slowed down somewhat in the second quarter but it was still exceptionally fast. With the help mainly of sustained growth in Japan it probably kept total OECD output growing, despite the depressing effects of major strikes in West Germany and the UK. The deceleration in the US mainly reflected a reduction in stockbuilding, which in the first quarter had made the biggest contribution to the growth of demand both there and in West Germany and France.

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  • Anonymous, 1984. "Chapter II. The World Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 109, pages 21-32, August.
    • Handle: RePEc:cup:nierev:v:109:y:1984:i::p:21-32_3
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