§ 25. Mr. Michael Shawasked the Minister of Technology how the present level of industrial stocks in relation to the present gross national product compares with recent periods of similar industrial growth.
§ Mr. BennI am publishing a table showing quarterly from 1958 the ratio of total stocks to gross domestic product both measured at 1963 prices seasonally adjusted (quarterly figures of gross national product are not available at constant prices). The ratio at the end of June 1969 was higher than during 1964 and similar to that in the last half of 1960 and first half of 1961, periods when industrial production was growing at 2 per cent. per annum, a similar rate to that in the first half of 1969.
RATIO OF STOCKS TO GROSS DOMESTIC PRODUCT
Stocks at end of quarter at constant (1963) prices, seasonally adjusted.
Gross domestic product in quarter, seasonally adjusted.
End 1962 radio = 100.
1958 1st quarter 99 1964 1st quarter 96 2nd quarter 102 2nd quarter 97 3rd quarter 100 3rd quarter 97 4th quarter 101 4th quarter 97 1959 1st quarter 101 1965 1st quarter 98 2nd quarter 99 2nd quarter 99 3rd quarter 98 3rd quarter 99 4th quarter 97 4th quarter 98 1960 1st quarter 97 1966 1st quarter 99 2nd quarter 98 2nd quarter 100 3rd quarter 100 3rd quarter 100 4th quarter 100 4th quarter 99 1961 1st quarter 99 1967 1st quarter 99 2nd quarter 100 2nd quarter 99 3rd quarter 100 3rd quarter 99 4th quarter 101 4th quarter 100 1962 1st quarter 101 1968 1st quarter 97 2nd quarter 99 2nd quarter 99 3rd quarter 100 3rd quarter 97 4th quarter 100 4th quarter 96 1963 1st quarter 100 1969 1st quarter 99 2nd quarter 97 2nd quarter 100 3rd quarter 97 4th quarter 95