The Economic Situation

Anonymous

National Institute Economic Review, 1961, vol. 15, 4-11

Abstract: Final sales have been rising relatively fast since the beginning of the year, but for a time the effect on the level of output has apparently been offset by reduced stock accumulation. Now, output is probably starting to rise again and it seems likely to continue to increase. The only substantial adjustment to the broad predictions for overall demand made in the January issue of the Review is that prospects for consumers' expenditure now suggest bigger increases than were then expected. It is unlikely that the economy as a whole will be running at the limits of capacity in the rest of this year, but there may be increasing strains in some sectors. The central problem of policy is likely still to be the discouraging outlook for the balance of payments.

Date: 1961
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