Chapter II. The Home Economy Forecast

Anonymous

National Institute Economic Review, 1973, vol. 63, 34-47

Abstract: Three months ago we drew attention to the difficulty of interpreting the current economic indicators. Since then the situation has, if anything, become worse. The underlying trends in the economy would in any case have remained obscure because of the distortions caused by strikes, but in addition, the discrepancy between the three estimates of GDP became even greater in the third quarter of 1972 (chart 1). The change in output then as compared with a year earlier is given variously as minus 1/3, plus 2 1/4 or plus 3½ per cent, by the expenditure, income and output estimates respectively.

Date: 1973
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