§ 28. Mr. Knoxasked the Chancellor of the Exchequer what has been the average rate of economic growth since May 1979.
§ Sir Geoffrey HoweComplete GDP data beyond the first quarter of last year are not available because of the Civil Service dispute. In the first quarter of 1981 the average measure of GDP (that is, based on all three—expenditure, income and output—measures) was 41/4 per cent. below its first half of 1979 level. Using the first half of 1979 helps to minimise the distortions caused by industrial action, weather and pre-Budget buying. Since the first quarter of 1981, GDP has risen slightly both on the income—third quarter—and output—fourth quarter—measures.