§ Mr. Lawsonasked the Chancellor of the Exchequer if he will publish a table to show the average level of industrial output (a) between June 1970 and February 1974 and (b) between March 1974 and the latest month for which figures are available.
§ Mr. Joel BarnettThe table below shows the all-industries index of industrial production averaged for each of the periods requested, seasonally adjusted, with the average for the year 1975=100.
INDEX OF INDUSTRIAL PRODUCTION (1975=100 (seasonally adjusted) (a) June 1970-February 1974 103.1 (b) March 1974-October 1978 104.4 The use for some industries of series which measure deliveries rather than production can result in the numbers in the above table over-stating or understating the level of output. Figures for industrial output adjusted for this effect are available only quarterly and in arrears of the latest index data. The table below shows adjusted figures for the nearest available period:
OUTPUT OF ALL INDUSTRIES (1975=100) (a) Average third quarter 1970 to first quarter 1974 103 .3 (b) Average second quarter 1974 to third quarter 1978 104.9