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Economy: Growth

Volume 687: debated on Tuesday 5 December 2006

asked Her Majesty's Government:

Whether gross domestic product growth is as appropriate an indicator of real economic growth as evidenced passenger growth. [HL315]

The information requested falls within the responsibilities of the National Statistician, who has been asked to reply.

Letter from the National Statistician, Karen Dunnell, to Lord Bradshaw, dated December 2006.

As National Statistician, I have been asked to reply to your recent Parliamentary Question concerning GDP growth and evidenced passenger growth (HL315). GDP is the key economic indicator of real growth in an economy. It is measured according to internationally agreed specifications and seeks to include all economic activity. Passenger growth does not cover all economic activity in an economy and therefore is unlikely to be a more appropriate indicator.