The Economic Situation

Anonymous

National Institute Economic Review, 1962, vol. 21, 4-23

Abstract: The first quarter was probably the bottom point of a stock-cycle—a cycle which had been interrupted at the end of last year by an unintended rise in manufacturers' stocks of finished goods; these stocks seem to have been run off at the beginning of the year. Apart from this swing in stocks, there was very little change in real terms, between the fourth quarter and the first: we take the view that the increase in consumers' spending on durables in the first quarter was nearly all seasonal (page 7). So the year 1962 began with national output, industrial production, and also the volume of exports of goods and services all roughly where they had been two years earlier, at the end of the brief 1959 boom.

Date: 1962
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