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World Economic Report 1951–1952

image of World Economic Report 1951–1952

World Economic Report 1951-52 highlights the major domestic economic changes in economically developed private enterprise economies, centrally planned economies and selected countries of Latin America and the Far East. The Report also studies the changes in international trade and payments in several major economic powers. From 1950 to 1952, these took place in a context of continuing international disequilibrium.

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Introduction

World production, calculated on the basis of official reports by governments, rose to a new high level in 1952, but the rate of expansion, which had been rapid since 1949, slackened off considerably. This slackening was particularly marked in industrial production, which in the first nine months of 1952 was only some 2 per cent higher than in the corresponding period of 1951, as against an average annual increase in the two preceding years of about 13 or 14 per cent. The expansion of world agricultural output from the crop year 1950/51 to 1951/52 was also some 2 per cent. Production of food, however, rose only one per cent, thus barely keeping pace with the growth in population. International trade, measured at constant prices, was slightly lower in the first three quarters of 1952 than in the corresponding period of 1951. However, there appears to have been an upturn in both trade and industrial production in a number of countries towards the end of 1952.

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