Twenty-fourth Report on the Activities of the Monetary Committee.

Abstract

The main features of the world economic situation in 1982 were persistent recessionand continuing disinflation. In fact the expansion which had been expected for thesecond half of the year did not materialize; it was only in late 1982 and early 1983 thatthe first signs of an improvement in activity began to appear in a number of industrialcountries.