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World Economic Survey 1977

Current Trends in the World Economy

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World Economic Survey 1977 highlights a widespread uncertainty and unease about prospects for the world economy in 1978 and even over a longer time span. Although domestic income and output in 1977 and early 1978 have been continuing to increase in most countries, the pace has been moderating recently and shows no signs of quickening in the immediate future. For most countries—developing as well as developed—prospects are seen to depend quite heavily on events external to their domestic economy.

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