§ Mr. Dubsasked the Chancellor of the Exchequer whether he can identify any economic indicators which suggest a recovery is taking place.
§ Mr. BrittanBy the fourth quarter of 1982 total output was 1½ per cent. higher than in the spring of 1981. Inflation, at about 5 per cent., is now at a level which has not been bettered since the 1960s. Non-oil exports have held up well against the background of falling volume of world trade. Consumer demand is increasing strongly. Higher manufacturing productivity and increased competitiveness suggest that the underlying strength of the economy is improving. The prospect is for continued modest recovery.