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Industrial Production

Volume 885: debated on Thursday 30 January 1975

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asked the Secretary of State for Industry what growth in industrial production he now expects in 1975; and what was the growth in 1973 and 1974.

The index of industrial production rose by 7½ per cent. in 1973 compared with 1972. Estimates are not yet available for December 1974, but it seems likely that the index will have fallen by about 2½ per cent. in 1974, partly because of three-day working. Allowing for stock changes is unlikely to affect either of these. Several factors, including the uncertain state of world demand, will influence industrial production in 1975 and I cannot say what level is now expected.