§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what is the current velocity of circulation of money relative to that in 1978; and if he will publish a table showing the annual change in velocity of circulation since 1978 together with the change in (i) gross domestic product, (ii) manufacturing output, (iii) employment and (iv) unemployment.
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§ Mr. Kenneth ClarkeBetween the fourth quarter of 1978 and the first quarter of 1994 the velocity of circulation of M0 increased by 75 per cent., while the velocity of circulation of M4 has decreased by 43 per cent. The annual changes of these velocities are published in "Financial Statistics", table 3.1B. The table sets out the publication details for the other statistics:
Statistic Source Gross domestic product Economic Trends (June 1994) Table 2.1 and Economic Trends Annual Supplement (1994) Table 1.1 Manufacturing output Economic Trends (June 1994) Table 1.1 and Economic Trends Annual Supplement (1994) Table 4.1 Employment/unemployment Economic Trends (June 1994) Table 4.2 and Economic Trends Annual Supplement (1994) Table 3.2