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28.
Mr. Knox
asked the Chancellor of the Exchequer whether there have been any further signs that he economy is recovering from the recession.
35.
Mr. Campbell-Savours
asked the Chancellor of the Exchequer what recent evidence he has had of economic recovery.
Mr. Peter Rees
In the three months to May, the average level of the index of industrial production rose by 3 per cent. from the level of the previous three months to stand at a level 4½ per cent. higher than a year ago. In the second quarter of this year retail sales rose by 2 per cent, and were 4½ per cent. higher than a year ago. All the indications are that we are now entering the fifth year of increased economic activity — the longest period of continuous growth since the 1973 oil crisis.