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£ Sterling, Incomes And Trade

Volume 958: debated on Wednesday 22 November 1978

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asked the Chancellor of the Exchequer what was the reduction in the

Percentage change over previous year (appreciation +;depreciation -)
1976 per cent.1977 per cent.1978 per cent.
Relative normal unit labour costs§
United Kingdom-8·8-4·4+7·4*
France+0·4-4·1-3·1*
Italy-12·1-6·3-2·7*
Relative wholesale prices§
United Kingdom-6·9+6·3+12·8*
France-4·1-5·9-1·6*
Italy-7·3+2·4-1·1*
Real national disposable income║
United Kingdom+2·8+1·0+3·9†
Volume of exports of manufactures
United Kingdom+9·0+8·0+2·0‡
France¶+10·0+6·0
Italy¶+14·0+8·0
Volume of imports of manufactures ║
United Kingdom+9·0+11·0+14·0‡
* Percentage change between the first quarters of 1977 and 1978.
† Percentage change between the average of the first two quarters of 1977 and the average of the first two quarters of 1978.
‡ Percentage change between the average of the first three quarters of 1977 and the average of the first three quarters of 1978.
§ Source: International Monetary Fund, International Financial Statistics, November 1978.
║ Figures for France and Italy are not available.
Source: Trade and Industry, 8th September 1978.