Chapter III. Production

Anonymous

National Institute Economic Review, 1965, vol. 31, 31-43

Abstract: The industrial production index gave a rather misleading impression of stagnation in the middle of the year. There had been a sharp rise from the fourth quarter of 1963 to the first quarter of 1964; then the index was flat for two quarters; and finally in the fourth quarter there was another substantial jump. This made the increase during the year (between the fourth quarter of 1963 and 1964) 5½ per cent. For the year as a whole industrial production was 7½ per cent higher than in 1963. This apparent slowing-down in the middle of the year was probably partly genuine —there is some evidence for it in the estimates from the side of expenditure (page 5)—and partly probably a change in seasonal patterns.

Date: 1965
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