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Economic Growth

Volume 931: debated on Tuesday 10 May 1977

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asked the Chancellor of the Exchequer what is his estimate of the United Kingdom's current rate of economic growth; and what are the equivalent figures for other EEC countries, the United States of America, and Japan.

Economic growth is normally measured by the percentage change in gross national product—GNP—or in gross domestic products—GDP. In the table below, provisional estimates for the percentage increase in GNP or GDP have been expressed as annual rates. The growth rates shown between the years 1975 and 1976 are shown in column 1. Estimates are available for some countries for the latter half of 1976—that is, for growth between the second and fourth quarters, and these are shown in column 2.

Annual rate of growth per cent.
Column 1Column 2
United Kingdom
United States of America3
Japan2
Italy6
Germany
France5
Denmark
Netherlands
Ireland
Belgium3
Luxembourg3