§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer what estimate he has made of the standard deviation of the United Kingdom's growth rate over the previous economic cycle; and if he will make a statement. [130261]
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§ Miss Melanie Johnson[holding answer 12 July 2000]: Over the economic cycle between 1986 Q2 and the first half of 1997, the Treasury estimates the standard deviation of the quarter on quarter growth of GDP (in 1995 prices and seasonally adjusted) was 0.62.
Since the first half of 1997 GDP growth in the UK has been less variable than over the previous economic cycle, with an estimate standard deviation to date of 0.27.