The present economic commentary surveys trends extending to about the middle of this year. Trends for the rest of the year, and into next, may in many respects be somewhat different. Implications for policy are discussed in the concluding assessment.
The second quarter saw a further deepening of recession in Europe, though industrial production rose in Japan, and in the United States showed a rise in June. Many of the larger countries have, however, now adopted, or are strengthening, reflationary policies.
Published on
01 September 1975
Economic commentary