Industrial lands' GNP -- growth seen at a trickle
The seven major industrial countries can expect growth averaging just under 1 percent in their gross national product this year, according to a report on the world economy published here.
The report by EIU, the intelligence unit of The Economist magazine, predicted that Japan would do best among the seven industrial giants, but with a modest increase of 2.5 percent in GNP -- the total output of goods and services. In the US, where interest rates are at 19 percent or more, GNP growth in 1981 will not be much above 1 percent, the report said.
Some forecasters have been saying the world should begin to recover later this year from the recession if there are no new shocks such as a leap in oil prices.