1980 lag, '81 stagnation forecast for US by OECD
Paris — The United States can expect a continuing decline in economic activity throughout this year and virtual stagnation in much of 1981, the Organization for Economic Cooperation and Development forecast Thursday.
It forecast a 1 percent decline in gross national product this year after a 2 .3 percent rise in 1979. In the first half of 1981, GNP is expected to return to zero growth, where it could remain for much of the year.
It is also predicted that Japanese exports will increase in volume by slightly more than 14 percent this year.