National Institute Economic Review

This chapter reviews the development of the economy in 1968. It begins with a section devoted to a narrative of economic policy. The concluding paragraphs of the narrative anticipate some of the analysis in the subsequent sections, which are devoted to the behaviour of output and the components of demand, the balance of payments, and employment, unemployment, and productivity.

The November 1968 issue of the Review was com pleted just as a new set of measures was announced, on 22 November. A Press Release was subsequently prepared in which the effects of these measures were discussed. Relatively few subscribers received copies of this Press Release, the relevant section of which, for the record, is reprinted below.