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Chapter II. The World Economy
Published online by Cambridge University Press: 26 March 2020
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Later information confirms our February estimate that real economic growth in the OECD area last year was around 5 3/4 per cent. Our figure for 1973 has, however, been raised further and now stands at 7 per cent. Consumer demand should again be very strong and though housing investment is likely to increase more slowly, and even to flatten out in the United States, business investment in Western Europe has become much more buoyant in the last six months or so. Some slowing down still seems probable in 1974.
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- Copyright © 1973 National Institute of Economic and Social Research
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page 28 note (1) In which we have now included Australia, for the first time.
page 34 note (1) Several London commodity brokers have issued circulars pointing out the advantages of investing in ‘real commodities' in lieu of stocks and shares and offering favourable terms (such as opportunities of dealing in small amounts, e.g. 10-50 tons of sugar or rubber, for a commission of 1/2-1 1/2 per cent as against 5 per cent charged by stockbrokers).
page 38 note (1) The index includes metals but does not cover all primary products. Fruit, for example, is excluded (apart from bananas) and so is wine. Full details of the coverage were given in National Institute Economic Review no. 63, February 1973, pages 88-91.
page 38 note (1) Samuel Montagu & Co. Ltd, Annual Bullion Review 1972.
page 39 note (1) A tabular list of measures adopted since May 1971 to dis courage capital inflows into these countries was given in National Institute Economic Review no. 63, February 1973, page 84.
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