Chapter II. The Forecast

Anonymous

National Institute Economic Review, 1975, vol. 71, 40-61

Abstract: The movement of the economy since we last reported seems to have been rather weaker than we were expecting. Output seems to have fallen in the fourth quarter of last year—a development which is all the more surprising since consumers' real incomes have been much higher than we anticipated; real personal disposable income is officially estimated to have risen by nearly 4 1/2 per cent in the third quarter of last year compared with our November estimate of only half this amount. The wage and salary bill rose by 8 per cent in current prices as thresholds were paid under Stage 3 agreements, as London weighting was increased and as post-Stage 3 catch-up settlements became effective. Current grants to persons rose by 15 per cent as the large uprating of pensions came into effect. The Forces too appear to have been given a large pay rise, and threshold increases and London weighting have also raised pay in other parts of the public sector.

Date: 1975
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:nierev:v:71:y:1975:i::p:40-61_3

Access Statistics for this article

More articles in National Institute Economic Review from National Institute of Economic and Social Research Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK. Contact information at EDIRC.
Bibliographic data for series maintained by Kirk Stebbing ().