§ Mr. Craigenasked the Chancellor of the Exchequer, pursuant to his reply of 17 February, Official Report, c. 234, to the hon. Member for Glasgow, Maryhill about the recent Organisation for Economic Co-operation and Development survey of the United Kingdom economy, if he will add to the statement in respect of the Organisation for Economic Co-operation and Development observations about growth, manufacturing output, and employment.
§ Mr. BrittanThe OECD's recent survey of the United Kingdom forecasts an annual rate of growth of real GDP of 1.75 per cent. up to mid-1984, with some recovery in manufacturing output also occurring over this period. The decline in total employment is forecast to slow down from 2.25 per cent. in 1982 to some 0.25 per cent. in the first half of 1984. Table 11 of the survey shows unemployment levelling out between the second half of 1983 and the first half of 1984.