Introduction: Elements of inflation and their significance for economic recession

The year 1957 marked another turning point in the curve of economic growth traced by the developed countries during the nineteen fifties. The post-Korean expansion, which had already been proceeding at a decelerating rate in 1956, lost most of its momentum in the course of the past year. In North America the rate of economic activity levelled off early in 1957 and began moving downwards during the latter part of the year. Although in western Europe the average level of economic activity was still higher than a year earlier, in a number of countries end-year output fell below the beginning-year rate; and, as had already happened in the United States, burdensome surpluses and excess capacity were beginning to appear in 1958 even in sectors of the economy which had once been disturbed by equally troublesome shortages.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Climate Action