§ Mr. Churchillask the Chancellor of the Exchequer what was the index of industrial production in February 1978, taking February 1974 as 100; and what percentage per annum industrial growth this represents.
§ Mr. Denzil Davies, pursuant to his reply [Official Report, 7th March 1978], gave the following answer:
The latest available information relates to December 1977, when the provisional seasonally adjusted all-industries index, rescaled to February 1974 equals 100, was 98.6. Making broad adjustments for the effect on the index of stock movements, it is estimated that industrial production in December 1977 was at much the same level as in February 1974.