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Services for Manufacturing

Published online by Cambridge University Press:  26 March 2020

George F. Ray
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Abstract

The most recent peak in the production of UK manufacturing industries was in 1973; ten years later, in 1983, the level of manufacturing output was still 15 per cent lower.

In the same period the official output index for services (as measured by value added and other methods) increased markedly and one of its sections—Division 8, covering banking and finance, insurance, leasing, business and professional services—grew particularly rapidly, by about 70 per cent.

Type
Articles
Information
National Institute Economic Review , Volume 117 , August 1986 , pp. 30 - 32
Copyright
Copyright © 1986 National Institute of Economic and Social Research

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Footnotes

This short note attempts to answer the question of whether, and to what degree, the decline in manufacturing output in 1973-83 might have been due to a shift of certain activities from manufacturing to services.

References

(1) The definition of manufacturing has been revised in the period 1973-83; to a certain extent this affected the industrial classification as well. It is unlikely that the revision influenced these general statements in any major way, although it might have some impact on some of the detailed figures.