§ Mr. MitchellTo ask the Chancellor of the Exchequer what changes have been made to his Department's estimates of the level of economic growth in 1997. [55485]
§ Ms HewittThe information requested falls within the responsibility of the Director of the Office for National Statistics. I have asked him to reply.
Letter from John Kidgell to Mr. Austin Mitchell, dated 19 October 1998:
The Director of the Office for National Statistics has been asked to reply to your Parliamentary question on changes to the level of economic growth in 1997. I am replying in his absence.The most recent data for 1997, published on 24 September 1998, show that gross domestic product (GDP) at constant market prices rose by 3.5 per cent. compared to 1996. Previous estimates published on 20 August 1998 showed growth in 1997 of 3.4 per cent.The quarterly path of GDP growth during 1997 shows quarterly growth rates of 1.0, 1.2, 1.0 and 0.7 per cent. in quarters 1 to 4 respectively. This compares with previously published estimates of 0.7, 1.0, 0.8 and 0.6 per cent.