Abstract
Last February we suggested that the aggregate volume of national output (GNP) of the member countries of OECD would rise in 1970 by 3 per cent and the dollar value of world trade by about 9 per cent. We now estimate that the rise in output was appreciably below our forecast, at about 2½ per cent, but that the rise in the value of world trade was probably as high as 15 per cent, which would mean that it was the biggest since the Korean War 20 years ago.
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