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Structural Changes in the Economy, 1956-1978

Published online by Cambridge University Press:  26 March 2020

G.F. Ray
G.F. Ray*
Affiliation:
National Institute of Economic and Social Research
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Abstract

The new official estimates, using 1975 constant prices, provide the basis for assessing the growth rates from 1956-7 to 1977-8 as well as the changing importance, i.e. weights, of the following parts of the British economy: the main economic sectors, the main industrial categories, the manufacturing industries, and the branches of mining and trans port and communications.

Type
Articles
Information
National Institute Economic Review , Volume 89 , August 1979 , pp. 38 - 43
Copyright
Copyright © 1979 National Institute of Economic and Social Research

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References

Note (1) page 38 The sources used were: National income and expenditure, 1967-1977; Economic Trends, April and May 1979; and information supplied by the Central Statistical Office. The detailed definitions given in these and other sources should be consulted before any further processing or interpretation of the data.

Note (2) page 38 The 1956-57 weights were calculated using the formula Where

W=weight, I=output index, s=sector, t=total, 56/7 and 75 denote years. The results were adjusted to 1000 or 100.

The 1977-78 weights were calculated similarly.

Note (3) page 38 This information is not available for the whole period; the table indicates changes between 1968 and 1977.

Note (4) page 38 For more details on this, see F. Blackaby (ed.), De industrialisation, Heinemann for NIESR, 1979.