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Chapter IV. Production

Published online by Cambridge University Press:  26 March 2020

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Extract

In February 1966, the industrial production forecast was based on ‘present policies’; it then appeared that national output might rise 2 1/4 per cent in 1966, and the forecast for industrial production was for an increase of 2 1/3 per cent. The deflationary policies in July reduced the year-on-year rise in national output to 1 per cent, and the rise in industrial production to ½ per cent.

Type
Research Article
Information
National Institute Economic Review , Volume 39 , February 1967 , pp. 44 - 52
Copyright
Copyright © 1967 National Institute of Economic and Social Research

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References

note (1) page 46 The National Institute's Ninth Annual Industrial Inquiry was carried out in December 1966. The managements of 134 firms employing over one million persons were inter viewed in the metal using industries, that is, mechanical engineering, electrical engineering, motor vehicles, ‘other metal goods’ (intermediate and miscellaneous metal pro ducts) and chemicals. In addition a postal questionnaire was sent to a number of large firms in the paper industry. Copies of the press release, issued on 23 January, are available on request.

note (1) page 47 Under the present programme generating capacity will be increased from about 35,000 MW in 1965 to around 63,000 MW in 1971. The bulk of the rise is to come in 1967-69; in these years new plant is likely to be commissioned at the rate of 6,500 MW a year, compared with 2,700 MW in 1965. But it is already apparent that even if natural gas fails to make a serious impact on the energy position, excess capacity in the heavy electrical industry will emerge around 1970 unless exports can be developed on a very large scale.

note (2) page 47 This is due to be completed in 1970 and to provide sufficient transmission capacity until 1980. Hence the 1970s look like being a period of uncertainty for cables.