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The Economic Situation: Chapter I. The Home Economy

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  • Anonymous

Abstract

This reassessment of the economic situation and prospects does not have to be a long one. There was no reflation in the Budget, and nothing has happened to alter the main framework of the forecast for national output published three months ago. In our view, in the absence of policy changes, output during 1967 will be rising at a rate around 2 per cent a year. (The rise, comparing the two calendar years, will be much less than this—perhaps about 1 per cent.) Unless there has been a sharp downward break in the trend of underlying productivity observed in recent years, this output forecast implies that unemployment will be rising perhaps by 8-10 thousand a month (wholly unemployed, seasonally adjusted).

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  • Anonymous, 1967. "The Economic Situation: Chapter I. The Home Economy," National Institute Economic Review, National Institute of Economic and Social Research, vol. 40, pages 4-13, May.
    • Handle: RePEc:cup:nierev:v:40:y:1967:i::p:4-13_2
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