§ 20. Mr. Knoxasked the Chancellor of the Exchequer by how much the index of industrial production has risen since March 1974; and how this compares with the increase between July 1970 and February 1974.
§ Mr. Denzil DaviesFebruary 1978 is the latest month available. Actual industrial output, after allowing for the usual quarterly adjustment for the use of delivery indicators in the index of production, was then at about the same level as the average for the whole of the first quarter of 1974.
The seasonally corrected monthly index figure, uncorrected for the use of delivery indicators, was about 2 per cent. lower in February 1978 than in March 1974, and about 2½ per cent. higher in February 1974 than in July 1970.