Chapter I. The Home Economy

Anonymous

National Institute Economic Review, 1974, vol. 69, 7-28

Abstract: Since we last reported, in May, the economy has moved broadly in line with our expectations then. We now estimate (see notes below) that total output fell by about 2 per cent during the first half of the year and it does not appear to have returned in the recovery months to levels any greater than those achieved last year. Unemployment has however begun to turn up rather more quickly than we had anticipated, rising by an average of 19,000 per month between May and August.

Date: 1974
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