About the book
World Economic Survey 1971 examines some salient features of economic developments in 1970, taking into consideration the more detailed biennial report on the world economy that is to be issued in connection with the review and appraisal of the Second United Nations Development Decade. According to the Survey, 1971 witnessed a sluggish performance of the world economy in terms of both production and trade. The rate of growth of aggregate production of goods and services remained at about 4 per cent in 1971, not much more than that of the previous year. Although this rate fell short of the First United Nations Development Decade’s annual average of 5.3 per cent, a worldwide recession, at times considered a possibility, was averted.