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Chapter I. The Home Economy

Published online by Cambridge University Press:  26 March 2020

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Extract

There were three forces behind the expansion that got underway last year. There was a burst of consumer spending, probably because inflation was falling and credit more easily obtainable. Fixed investment rose, chiefly because housebuilding was stimulated by lower interest rates and public investment increased. And there was a changeover from a substantial decumulation of stocks to moderate accumulation.

Type
Articles
Information
National Institute Economic Review , Volume 109 , August 1984 , pp. 5 - 20
Copyright
Copyright © 1984 National Institute of Economic and Social Research

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References

page 10 note (1) Previous estimates suggested 2¾ per cent.

page 13 note (1) The survey also covers investment in construction which is not expected to increase much.

page 15 note (1) These are rough estimates, obtained by deflating value figures by the unit value index for exports to all destinations.

page 17 note (1) Employment Gazette, July 1984, pp. 319-322.

page 19 note (1) We have assumed that the entire proceeds from the sale of British Telecom will fall within the financial year.