The Economic Situation: Annual Review: Chapter I. The British Economy in 1969

1970 ◽  
Vol 51 ◽  
pp. 4-21
Keyword(s):  
Economic Policy ◽  
Balance Of Payments ◽  
Economic Situation ◽  
Annual Review ◽  
British Economy

This chapter begins with a narrative and review of economic policy in 1969; succeeding sections deal with output and the composition of demand; the balance of payments; and the regions.

The Economic Situation : Annual Review

1961 ◽  
Vol 13 ◽  
pp. 4-28
Keyword(s):  
Economic Policy ◽  
The State ◽  
Balance Of Payments ◽  
Economic Situation ◽  
Annual Review ◽  
Export Trade ◽  
British Economy ◽  
British Industry ◽  
The World

Chapter 1 gives a brief summary of trends in Britain in 1960, and surveys the state of British industry at the end of the year. Chapter 2 looks at world developments and prospects—in particular at the world payments difficulties developing in 1960. In the light of these trends, Chapter 3 considers Britain's export trade and her balance of payments. Chapter 4 then gives a forecast for the British economy during 1961. Chapter 5 examines the world problem of reserves and trade and, finally, considers the problems of current economic policy.

The Economic Situation: Annual Review : Chapter I. the British Economy in 1970

1971 ◽  
Vol 55 ◽  
pp. 4-21
Keyword(s):  
Economic Growth ◽  
Balance Of Payments ◽  
Economic Situation ◽  
Annual Review ◽  
British Economy ◽  
Wage Inflation

Although there was no balance of payments problem of the familiar kind in 1970, the year proved conspicuously unsuccessful in other respects. So far from leading on to a period of well-sustained economic growth, declining unemployment, and steadying prices, the hard-won struggle to ‘make devaluation work’ instead brought in its wake a period of accelerating price rises, a wage inflation of virtually unparalleled intensity, and a declining pressure of demand. This combination of ‘nominal’ inflation and ‘real’ stagnation was aptly named ‘stagflation’.

Chapter I. The British Economy Since Devaluation

1969 ◽  
Vol 47 ◽  
pp. 4-31
Keyword(s):  
Economic Policy ◽  
Balance Of Payments ◽  
British Economy

This chapter reviews the development of the economy in 1968. It begins with a section devoted to a narrative of economic policy. The concluding paragraphs of the narrative anticipate some of the analysis in the subsequent sections, which are devoted to the behaviour of output and the components of demand, the balance of payments, and employment, unemployment, and productivity.

The Economic Situation : Annual Review

1964 ◽  
Vol 27 ◽  
pp. 4-12 ◽  
Keyword(s):  
Economic Policy ◽  
Labour Supply ◽  
Balance Of Payments ◽  
Economic Situation ◽  
Annual Review ◽  
The Individual

This chapter brings together a brief review of the economy in 1963 and a revised forecast of the trend of demand over the next eighteen months; it then looks in particular at the implications for the labour supply and the balance of payments; and finally it draws some conclusions about economic policy. The detailed justification of the individual forecasts is given in Chapter II.

Chapter I. the Home Economy

1983 ◽  
Vol 103 ◽  
pp. 6-29
Keyword(s):  
Economic Policy ◽  
Balance Of Payments ◽  
Short Term ◽  
Short Term Forecast ◽  
The Past ◽  
Term Forecast ◽  
Economic Developments

This chapter is in two main parts. The first contains a survey of economic developments in 1982. It begins with a brief account of economic policy; succeeding sections deal with output and demand, inflation, and the balance of payments. It concludes with a discussion of the experience of individual industries over the past year, and since the beginning of recession in 1979. The second part of the chapter contains a short-term forecast to end-1984.

The Economic Situation: Annual Review

1962 ◽  
Vol 19 ◽  
pp. 4-18
Keyword(s):  
Economic Situation ◽  
Annual Review ◽  
British Economy ◽  
Economic Trends ◽  
Dividing Line

The dividing line in recent economic trends came in the middle of 1960 when the short sharp burst of expansion in the British economy stopped. Since then, there has been little further growth. There was no increase in real demand in the second half of 1960, a rise in the first half of 1961, and a downturn in the second half. It is too early to say for certain how big this last fall was; but—allowing for seasonality—it probably left demand and output at the end of 1961 less than 1 per cent higher than they had been eighteen months earlier (table 1 and chart 1).

Chapter I. The Economy in 1977

1978 ◽  
Vol 84 ◽  
pp. 6-21
Keyword(s):  
Economic Policy ◽  
North Sea ◽  
Current Account ◽  
Effective Rate ◽  
Balance Of Payments ◽  
Price Inflation ◽  
Import Prices ◽  
The North ◽  
The North Sea

British economic policy in 1977 was conducted for the most part within the confines of the undertakings given to the IMF in the Letter of Intent of December 1976. Partly as a result, output stagnated almost completely and unemployment rose slowly and erratically by a further 100 thousand during the year. The operation of Stage II of the pay policy during the first half of the year and the almost universal acceptance of the 10 per cent settlements guideline during the second half meant that the wage and salary bill was just under 10 per cent higher in 1977 than in 1976, compared with an increase of over 13 per cent in the previous year. Import prices rose by 16 per cent year-on-year (partly because of the sharp effective depreciation of sterling in late 1976) but the rate of consumer price inflation slowed a little, from 15 1/2 per cent during 1976 (that is, between the final quarters of 1975 and 1976) to just over 14 per cent last year. Despite the virtual stagnation of home demand, the depreciation of sterling (the effective rate was 5 per cent lower on average in 1977 than in 1976) and the net increase in the North Sea oil benefit from about £0.5 billion in 1976 to over £2 billion in 1977, the current account of the balance of payments reached only bare balance (from a 1976 deficit of just over £1 billion).

Chapter I. The Home Economy

1986 ◽  
Vol 115 ◽  
pp. 6-26
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Fiscal Policy ◽  
Balance Of Payments ◽  
Post Mortem ◽  
General Survey ◽  
Short Term ◽  
British Economy ◽  
Term Forecast

This chapter is in two parts. The first gives a general survey of developments in the British economy last year. It begins with a description of trends in output and demand; succeeding sections deal with fiscal policy, monetary policy and the exchange rate, inflation, unemployment and the balance of payments. It concludes with a post mortem on last year's forecasts. The second part of the chapter contains a short-term forecast for 1986 and 1987

The Economic Situation: Annual Review

1972 ◽  
Vol 59 ◽  
pp. 4-21
Keyword(s):  
Balance Of Payments ◽  
Economic Situation ◽  
Domestic Policy ◽  
Annual Review ◽  
Domestic Economy ◽  
Domestic Output ◽  
Policy Problems

The chief domestic policy problems of 1971 were the same as those of the previous year: inflation and unemployment. The comfortable balance of payments surplus realised in the previous year was substantially improved, thanks partly to the sluggish condition of domestic output and demand; and the dollar crisis signalled by President Nixon's measures of 15 August, though provoking some awkward problems for monetary management in the interim before the new settlement, seems to have had little immediate impact on the domestic economy.

The Economic Situation: Chapter I. The Home Economy

1963 ◽  
Vol 24 ◽  
pp. 4-14
Keyword(s):  
The State ◽  
Balance Of Payments ◽  
Economic Situation ◽  
The Third ◽  
State Of The Economy ◽  
National Output

The first section of this chapter provides a general appraisal of the state of the economy before the Budget, and of the likely course of national output for the rest of the year. The second section discusses the consequences for two crucial sectors-first, for employment and unemployment, and secondly, for the balance of payments. The third section gives a detailed description of the main items of national expenditure, and a justification of the assumptions made about their future course.

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