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Gross Domestic Product

Volume 35: debated on Thursday 27 January 1983

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33.

asked the Chancellor of the Exchequer what has been the decline in the United Kingdom's gross domestic product since May 1979; and what has been the corresponding figure for the rest of the Organisation for Economic Co-operation and development countries.

Between the first half of 1979 and the third quarter of 1982 the United Kingdom's gross domestic product, at constant market prices, is estimated to have declined by 3½ per cent. The OECD secretariat estimates that between the first half of 1979 and the first half of 1982, gross domestic product in the rest of the OECD increased by 3 per cent.