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Although this autumn sees the recovery of the economy well underway, the form this upswing is taking is very different from previous ones. The recession of the early 1980s has been more severe and more long lasting than any since the Great Depression. There has been no sustained economic growth from 1980 to 1983, and despite two recent quarters of surprisingly high GNP growth, that three‐year gap will not soon close.
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© MCB UP Limited
1983
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