§ Mr. Churchillasked the Chancellor of the Exchequer what was the level of national production in February 1975, 1976 and 1977, taking February 1974 as 100.
§ Mr. Denzil DaviesThe only national production data available monthly are those shown by the index of industrial production. When this index is rescaled, taking February 1974 as 100, the index numbers, seasonally adjusted, for February 1975, February 1976 and February 1977 are 101.5, 98.8 and 100.3 respectively. Making broad adjustments for the effect on the index of stock movements, it is estimated that the level of national industrial production in Febru-648W ary 1975 was some 2½ per cent. higher than in February 1974, in February 1976 it was at much the same level as in February 1974, and—on the basis of provisional estimates—in February 1977 about 1½ per cent. higher.