An Analysis of Post-War Growth Rates and an Illustrative Long-Term Projection

David Savage and Rajiv Biswas

National Institute Economic Review, 1986, vol. 118, 59-69

Abstract: Even with the contribution from North Sea oil, the British economy has on average since 1973 grown very slowly—barely half as fast as it did during the earlier post-war period. However the period since 1973 cannot be regarded in any sense as normal; for it incorporates two major recessions, and the recovery from these has clearly not been complete.

Date: 1986
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