World economy out of the doldrums

Abstract

After hopes of an international economic recovery had been repeatedly dashed during a slump period lasting almost three years, 1983 proved to be the long-awaited turnaround year for the world economy. In fact, the upswing came earlier and with greater momentum than had initially been forecast at the beginning of the year. This was particularly the case for the USA and—to a lesser extent—for several other major industrialised countries. Will this upward trend be sustained during 1984?