HC Deb 11 December 1980 vol 995 cc480-1W
36. Mr. Radice

asked the Chancellor of the Exchequer what has been the extent of the drop in total output since last year.

Mr. Biffen

The provisional third quarter output measure of GDP, which is usually the best' indicator of short-term movements in the economy, shows that in the first three quarters of this year GDP was 2½ percent, below the same period in 1979.

39. Mr. Winnick

asked the Chancellor of the Exchequer when he expects to see a substantial improvement in the economy.

Sir Geoffrey Howe

The forecast published on 24 November showed that output is likely to recover slightly from its present level. The prospects for sustainable growth largely depend upon progress in reducing inflation, which has already been substantiated and is forecast: to continue.