ARTICLES United Kingdom National Accounts: third quarter 1990 The 1989 Share Register Survey. No. 447 January 1991 Release dates of economic statistics to be published in February 1991 This is issued by the Central Statistical Office on behalf of the Government Statistical Service and other organisations as a guide to the publication dates of major economic series in February 1991. The dates are targets which are correct at the time of going to press. Exceptionally, there may be some delays due to unavoidable statistical problems. Enquiries about release of individual series should be made to the source named. Publication Method of date Series release Source February Mon 4 Credit business (December) CSO Retail sales (December-final) CSO UK official reserves (January) HMT Advance energy statistics (December) Dept. of Energy Wed 6 Overseas travel and tourism (November) CSO Housing starts and completions (December) DOE Mon 11 Producer price index numbers (January - provisional) CSO Tues 12 Acquisitions and mergers (4th quarter) CSO W ed 13 Capital issues and redemptions (January) Bank of England Details of employment, unemployment, earnings. prices DE and other indicators Thurs 14 Provisional figures of vehicle production (January) SMMT Labour market statistics: unemployment and unfilled vacancies DE (January - provisional); average earning indices (December - provisional) employment, hours, productivity and unit wage costs: industrial disputes Index of output of the production industries (December) CSO Capital Expenditure by the manufacturing industries CSO (4th quarter - provisional) Financing of the central government borrowing Bank of England requirement (4th quarter) : Monetary statistics including: M4 sectoral analysis: Bank of England bank and building society sterling lending (4th quarter) Usable steel production (January) British Steel plc/BISPA Retail prices index and tax and price index (January) CSO Sun 17 National Savings results (January) Dept.for National Savings Mon 18 CBI/FT survey of distributive trades (February) CBI Public sector borrowing requirement (January) HMT/CSO Retail sales (January - provisional) CSO Wed 20 London and Scottish banks monthly statement (January) CLSB Provisional estimates of monetary aggregates (January) Bank of England Gross Domestic Product (output-based) (4th quarter - preliminary) CSO Manufacturers and distributors stocks (4th quarter - provisional) CSO Construction - new orders (December - provisional) DOE Engineering sales and orders at current and CSO constant prices (December) Cyclical indicators for the UK economy (January) CSO CBI Monthly Trends Enquiry (February) Balance of payments current account and overseas trade figures (November) Wed 2 7 Building societies monthly figures (January) BSA Thurs 28 New vehicle registrations (January) DTp Energy Trends (December) Dept. of Energy PN = Press Notice BB = Business Bulletin EG Employment Gazette Economic Trends No 447 January 1991 First published 1991 A service of statistical information and advice is provided to Government by specialist staffs employed in the statistics division of individual Departments. Statistics are made generally available through their publications and further information and advice on them can be obtained from the Department concerned. The sources of the series published in this volume and further information about them are shown in the index. Current telephone numbers of these sources as well as general information about Economic Trends can be obtained from the . Great George Street, London SW1P 3AQ. Telephone: 071-270 6363/6364. Enquiries about orders and subscriptions for Economic Trends and other Central Statistical Office publications should be made to: HMSO, PO Box 276, London SW8 5DT (Telephone: 071-873 8499 for subscriptions; 071-873 9090 for orders). ISBN O 11 620470 2 ISSN 0013-0400 Introduction Economic Trends brings together all the main economic indicators. 7. There may sometimes be an inconsistency between a table It contains three regular sections of tables and charts illustrating and the corresponding chart, because the data may be received trends in the UK economy. too late to update the chart. In such cases it should be assumed that the table is correct. ‘Latest developments’ presents the most up-to-date 8. There is no single correct definition of money and there are statistical information available during the month. It is many liquid assets which are not included in any of the UK important to note that data included in this section may not monetary aggregates but which nevertheless need to be taken into be wholly consistent with other sections which have gone account on occasions when interpreting monetary conditions. to press earlier. All data in this section are seasonally Consequently, many definitions of money stock are widely used: adjusted unless otherwise stated. In most cases estimates are provisional and subject to revision. M0 the narrowest measure consists of notes and coin in circulation outside the Bank of England and bankers’ operational deposits The main section is based on information available to the at the Bank. CSO on the date printed at the foot of this page and shows the movements of the key economic indicators. The M2 comprises notes and coin in circulation with the public plus indicators appear in tabular for left hand pages with sterling retail deposits held by the UK private sector with UK corresponding charts on facing xignt hand pages. Colour banks, with building societies and in the National Savings Bank has been used to aid interpretation in some of the charts, ordinary account. for example by creating a background grid on those charts M4 comprises notes and coin in circulation with the public, drawn to a logarithmic scale. Index numbers in some tables together with all sterling deposits (including certificates of deposit) and charts are given on a common base year for held with UK banks and building societies by the rest of the private convenience of comparison. sector. The section on cyclical indicators shows the movements MS is equal to M4 plus private sector holdings of certain money- of four composite indices over 20 years against a reference market instruments, CTDs, and some national savings instruments. chronology of business cycles. The indices group together 9. Symbols used: indicators which lead, coincide with and lag behind the . not available business cycle, and a short note describes their most recent — nil or less than half the final digit shown movements. The February, May, August and November + alongside a heading indicates a series for which measures issues carry further graphs showing separately the of variability are given in the table on page 75 movements in all of the 27 indicators which make up the T indicates that the data is either new or has been revised since composite indices. last edition; the period marked is the earliest in the table In addition, quarterly articles on the national accounts appear in to have been revised the January, April, July and October issues, and on the balance * average (or total) of five weeks. of payments in the March, June, September and December issues. Occasional articles comment on and analyse economic statistics Regional Accounts: Revisions and introduce new series, new analyses and new methodology. The estimates of regional gross domestic product (GDP) published Economic Trends is prepared monthly by the Central Statistical in the November 1990 issue of Economic Trends have been Office in collaboration with the statistics divisions of Government revised. Most revisions are small (under | per cent) and have little Departments and the Bank of England. effect on regions’ total GDP. The largest percentage revision to total GDP is just over 1 per cent for Wales in 1989.However, Notes on the tables there have been some significant changes to the estimates of 1. The statistics relate mainly to the United Kingdom; where agriculture and energy GDP. The most significant revisions to figures are for Great Britain only, this is shown on the table. agriculture GDP are for Northern Ireland 1982—9. The revisions 2. Similarly, almost all quarterly data are seasonally adjusted; to energy GDP affect all regions in 1989 only and are particularly those not seasonally adjusted are indicated by NSA. large for Wales. 3. Some data, particularly for the latest time period, are Revised tables can be provided on request and will be published provisional and may be subject to revision in later issues. in the April issue of Economic Trends in the article Regional 4. Rounding may lead to inconsistencies between the sum of Accounts 1989 Part 2. For further information please contact Mrs constituent parts and the total in some tables. C Wykes, Central Statistical Office, PO Box 1333, Millbank 5. Aline drawn across a column between two consecutive figures Tower, Millbank London SW1P 4QQ or telephone 071-217 4195. indicates that the figures above and below the line have been compiled on different bases and are not strictly comparable. In The Editor would welcome readers’ suggestions for each case a footnote explains the difference. improvements to Economic Trends. 6. ‘Billion’ denotes one thousand million. Central Statistical Office, 31 January 1991 CSO Databank Virtually all the series in Economic Trends and the Quarterly Articles may be obtained as part of the CSO Databank Service on tape or disk. The appropriate four digit identifier is included at the top of the column or start of a row of figures. This enables users to obtain (in computer-readable form) a much more comprehensive and up-to-date set of long run macro- economic time series data than can be included in this publication. The tape format, unlabelled EBCDIC, is the same for all datasets. The disks, either 344” or 544” are written in ASCII text which can be loaded as spreadsheets and viewed using standard spreadsheet packages, such as LOTUS or SMART. Details of the service offered and the schedule of charges may be obtained from the Databank Manager, CSO Branch El, Room 52/4, Government Offices, Great George Street, London SW1P 3AQ (telephone 071-270 6386). CSO does not offer direct on-line access for these data but a list of host bureaux offering such a facility is available on request from CSO. Contents Introduction Symbols and definitions used Latest developments in the economy Table and charts Selected monthly indicators National accounts aggregates Gross domestic product: by category of expenditure Personal disposable income and consumption Real consumers’ expenditure - component categories Retail sales, new registrations of cars and credit business Gross domestic product and shares of income and expenditure Income, product and spending per head Gross domestic fixed capital formation Indicators of fixed investment by manufacturing industry CSO inquiry into investment intentions: manufacturing industry Indicators of fixed investment in dwellings Stock changes Stock ratios Inland energy consumption Index of output of the production industries Index numbers of output at constant factor cost Engineering and construction: output and orders Motor vehicle production and steel production and consumption Output per person employed National employment and unemployment Regional unemployment rates Average earnings Prices Visible trade Measures of UK competitiveness in trade in manufactures Balance of payments: current account Sterling exchange rates and UK official reserves Monetary aggregates Counterparts to changes in M4 General government receipts and expenditure Financial transactions of the public sector Summary capital accounts and financial surplus or deficit Appropriation account of industrial and commercial companies Capital account and financial surplus/deficit of industrial and commercial companies Financial transactions including net borrowing requirement of industrial and commercial companies UK banks’ lending to UK residents UK banks’ loans, advances and acceptances to UK residents Interest rates, security prices and yields A selection of asset prices Cyclical indicators for the UK economy Measures of variability of selected economic series Articles United Kingdom national accounts: the third quarter 1990 Share register survey 1989 Index of sources Other Release dates of economic statistics to be published next month inside front cover Articles published in recent Economic Trends inside back cover Latest developments in the economy Data available at 5 February 1991 DATA PUBLISHED BY CSO Output Retail sales In the three months to November, the output of the production The final, seasonally adjusted estimate of retail sales volume in industries is provisionally estimated to have fallen by 2.3 per December is 122.4 (1985=100). In October to December, sales cent compared with the previous three months, and by 2.4 per were 1.1 per cent down on the previous three months, and 0.8 cent compared with the same period a year earlier. The provi- per cent lower than in the same period a year earlier. In 1990 as sional index of production figure for November is 106.7 a whole, the level of sales was 0.8 per cent higher than in 1989. (1985=100). The index covers the manufacturing and energy Sales by food retailers declined by 0.2 per cent in October to industries, and all figures are seasonally adjusted. December compared with the previous three months, while Manufacturing output fell by 2.7 per cent in the three months sales by mixed businesses fell by 1.5 per cent, and sales by to November compared with the previous three months, and by non-food retailers fell by 1.7 per cent. 1.8 per cent on the same period a year earlier. Within manufac- Based on non-seasonally adjusted data, retail sales value in turing, between the latest three month periods, the output of the current prices in December was 5.2 per cent higher than in De- metals industry fell by 5.5 per cent, engineering and allied in- cember 1989. In 1990 as a whole, the value of sales was 7 per dustries by 3.9 per cent, chemicals by 2.5 per cent, textiles and cent up on 1989. clothing by 2.4 per cent, and “other manufacturing" by 2.1 per cent. The output of other minerals, and of food, drink and to- Credit business bacco, was little changed. In the fourth quarter of 1990, the amount outstanding on credit The output of the energy sector was 1.0 per cent lower than agreements with consumers increased by £1,030 million, com- in the preceding three months, and 3.9 per cent down on the pared with £1,261 million in the previous quarter. same period a year earlier. These figures are for the broader credit business coverage, By market sector, between the latest three month periods, the published quarterly, which includes loans by banks on personal output of the investment goods industries fell by 5.2 per cent, accounts, by insurance companies and by retailers. The nar- the output of the intermediate goods industries by 1.9 per cent, rower monthly coverage excludes these types of loans. and the output of the consumer goods industries by 0.6 per The total amount outstanding on broader coverage consumer cent. credit agreements was £50,626 million at the end of December. In the year as a whole the growth in the amount of consumer Producer prices credit outstanding was £4,301 million. This was lower than the The input price index for materials and fuel purchased by £4,799 million recorded in 1989, which in turn was lower than manufacturing industry fell by 3.1 per cent in the twelve the £5,692 million figure for 1988. months to December, following a fall of 2.6 per cent in the Narrower coverage figures for December show the amount twelve months to November. From November to December, the outstanding on consumer credit agreements rose by £141 mil- index rose by 1.5 per cent. The seasonal increase in the cost of lion, compared with an increase of £229 million in November. industrial electricity and a rise in the price of food manufactur- The figure for new consumer credit advanced, at £3,865 mil- ing materials were partly offset by falls in the price of petrole- lion, compared with £3,929 million in November and £4,179 um products. The seasonally adjusted index fell by 0.3 per cent million in October. between the two months. The increase over twelve months in the output price index Balance of payments for home sales of manufactured products was 5.8 per cent in In December, the current account deficit was £0.8 billion, com- December, compared with 5.9 per cent in November. The index pared with £1.0 billion in November. In the fourth quarter there rose by 0.2 per cent between November and December. was a deficit of £2.9 billion, compared with £3.6 billion in the previous quarter. And in 1990 as a whole there was a deficit of Retail prices £16.1 billion, compared with £19.6 billion in 1989. The general index of retail prices for 11 December 1990 was The visible deficit in December was £0.8 billion, compared 129.9 (January 1987=100), which was a decrease of 0.1 per with £1.0 billion in November. In the fourth quarter, the value cent on November and an increase of 9.3 per cent since De- of exports was 2 per cent up on the previous quarter and 33 per cember 1989. The latter compared with an annualised figure of cent higher than a year earlier. In the year as a whole, the total 9.7 in November, and was the lowest annual rate since March value of exports was 11 per cent up on 1989. On a volume 1990. Price reductions between November and December were basis, excluding oil and the erratic items, exports in the fourth reported for petrol and for motor vehicles, and there were resi- quarter were 2 per cent higher than in the previous quarter, and dual effects of the latest falls in mortgage interest rates. How- 4 per cent up on a year earlier. In 1990 as a whole, again ex- ever, there were some offsetting increases, most notably for cluding oil and erratics, export volume was 7} per cent higher seasonal foods. than in 1989. The tax and price Index for December was 123.3 (January Imports in December were valued at £9.3 billion, 4 per cent 1987=100), representing an increase of 9.0 per cent over the down on November. In the fourth quarter, the value of imports previous twelve months. was 1} per cent lower than in the third quarter, and 2 per cent lower than a year earlier. Total import value for 1990 was 3? pet There has been a drop of 53,000 over the last three months. cent higher than in 1989. Excluding oil and erratics, import Manufacturing employment fell by 78,000 in the latest year, volume in the fourth quarter was 1 per cent lower than in the compared with a fall of 13,000 in the previous year. third quarter, but 1} per cent higher than a year earlier. And in The UK workforce in employment (employees in employ- the year as a whole import volume, again excluding oil and er- ment, the self-employed, HM Forces and participants in work ratics, was 1 per cent up on 1989. related government training programmes) stood at 27,393,000 Invisibles are projected to be in balance during the last three in September, representing an increase of 56,000 in the quarter. months of the year, with a surplus on transactions by the private Growth over the year to September was 475,000. This was the sector offset by a deficit on government transactions. Revisions lowest quarterly increase since June 1986 (22,000) and the to projections can be substantial. lowest annual increase since the year to March 1987 (261,000). Public sector borrowing requirement Earnings Provisional estimates put the public sector borrowing require- The underlying increase in average weekly earnings in the year ment at minus £1.8 billion (that is a net repayment) in De- to November was about 93 per cent. This was the same as the cember. Privatisation proceeds amounted to £2.0 billion in De- increase in the year to October, which has been revised down- cember, from the first instalment of the sale of the regional elec- wards from 10 per cent. The actual increase in the year to No- tricity companies. The PSBR for the first nine months of the vember, at 9.3 per cent, was below the underlying increase be- current financial year was £2.6 billion, compared with a net cause arrears of pay were lower than in November 1989 and repayment of £3.4 billion in the same period last year. The timing adjustments have been made for workers who have not PSBR excluding privatisation proceeds was £6.3 billion in the been paid an increase in the last 12 months. first nine months of 1990-91, compared with £0.2 billion in the In production industries, the underlying increase in average period April-December 1989. weekly earnings in the year to November was about 9: per cent, a fall of ¢ per cent on the increase in the year to October. Within this sector, the underlying increase in manufacturing industries DATA PUBLISHED BY OTHER DEPARTMENTS in the year to November was about 9% per cent. This was the same as the increase in the year to October, which has been re- Official reserves vised down from 9} per cent. The actual increases for produc- The overall level of the UK’s official reserves fell by $96 mil- tion and manufacturing in the year to November were 9.6 per lion in January, bringing the end of January reserves to $38,368 cent and 9.7 per cent respectively. million (£19,586 million), compared with $38,464 million In the service industries, the underlying increase in average (£19,935 million) at the end of December. weekly earnings in the year to November was about 93p er cent, The underlying change in the reserves during January was the same as the increase in the year to October. The actual in- an increase of $46 billion. crease in the service industries was 9.0 per cent. The underlying change excludes a number of factors that are Productivity included in the total change. Proceeds from the month’s tender of UK ECU Treasury Bills amounted to $1,170 million. The Manufacturing output per head in the three months to No- underlying change also excludes maturing UK ECU Treasury vember was about 2.1 per cent lower than the three months Bills of $1,171 million, repayments of borrowing under the ex- ending August, and 0.9 per cent lower than in the same period a change cover scheme of $11 million, and the valuation change year earlier. Output per head in the whole economy was about arising from the quarterly rollover of the European Monetary 1.6 per cent lower in the third quarter than in the previous quar- Cooperation Fund swap amounting to a fall of $130 million. ter, and about 1.2 per cent lower than in the corresponding There was no new borrowing under the exchange cover quarter in 1989. scheme. Unit wage and salary costs Exchange rate In the three months.to November, wages and salaries per unit of The sterling exchange rate index (1985=100) was 94.2 in Janu- output in manufacturing were 10.6 per cent above the ary, compared with 93.2 in December. corresponding period a year earlier. This increase exceeded the rise in average earnings in manufacturing because of the fall in Unemployment and vacancies productivity over this period. In the third quarter of 1990, In the month to December, the seasonally adjusted level of wages and salaries per unit of output in the whole economy unemployment in the UK increased by 80,400 to 1.844 million, were 12.1 per cent above the corresponding period a year ear- 6.5 per cent of the workforce. Over the past six months on lier. Once again, this increase exceeded the rise in average average unemployment has risen by 37,500 per month. earnings because of the fall in productivity. The stock of unfilled vacancies at jobcentres decreased by 3,700 to a seasonally adjusted 128,700 in the month to De- Monetary aggregates cember. Over the three months to December, vacancies have Provisional information suggests that in the twelve months to declined on average by 10,200 a month. December, and before seasonal adjustment, MO rose by 2.5 per cent, M4 by 12.2 per cent, and MS by 12 per cent. In De- Employment cember, again before seasonal adjustment, MO rose by 0.5 per The numbers of employees in employment in manufacturing in- cent, while M4 decreased by 0.2 per cent and M5 was down dustries in Great Britain stood at 5,066,000 in November. Selected monthly indicators Retail Average Producer prices Taxand Volume of Index of earnings - price index (all price Sterling UK Balance of retail output of Vacancies whole index of items) index exchange official payments: sales production atjob economy materials (January (January rateindex reserves current Money (GB)+ industries Unemployed centres (GB) _—_and fuel 1987=100) 1987=100) (1985=100) ($ million) balance stock M4 (1985=100)' (1985=100) (thousands) (thousands) (1988=100) (1985=100) (NSA) (NSA) (NSA) (NSA) (€ million) (£ million) FAAM DVIM BCJD DPCB DNAB DZDQ CHAW DQAB AJHV AIP! AIMF AUYN 121.8 110.9 1 725.0 218.6 108.9 104.0 115.8 111.4 91.6 43208 -2316 400547? 122.3* 110.7 1 684.7 218.4 110.9 105.1 116.6 112.2 91.3 42876 -1909 406 765 121.9 110.5 1 670.4 213.1 112.2 105.4 117.5 111.7 89.7 39681 -1515 410827 121.7 109.8 1651.1 207.8 112.8 105.9 118.5 112.8 879 38767 -1678 417052 123.3* 110.4 1 636.1 197.9 113.5 105.4 118.8 113.1 86.5 38645 -678 424017 122.2 109.9 1615.8 200.7 115.1 104.7 119.5 113.9 879 38448 -1576 430152 124.4 109.4 1614.0 199.9 115.6 103.7 120.2 114.7 89.6 38537 -1015 435801 122.8* 111.3 1 606.6 198.2 117.3 105.6 121.4 115.9 87.0 39295 -1914 440453 123.8 112.17 1 607.0 199.9 117.4 104.8 125.1 118.2 87.1 39028 -1975 446304 124.5 111.1 1610.9 195.3 118.7 103.7 126.2 119.4 88.0 38934 -1423 451750 123.0* 113.5 1618.4 185.4 119.8 102.2 126.7 119.9 90.4 39014 -1514 456300 124.0 109.2 1632.1 172.4 119.9 102.3 126.8 120.0 935 38842 -1686 459965 122.0 108.1 1 655.3 167.8 120.7 103.2 128.1 121.4 95.3 39297 -1106 464093 122.7* 108.2 1670.5 159.2 121.5 105.4 129.3 122.7 93.8 39060 -720. 466 853 121.3 108.2 1704.8 142.6 1223 104.7 130.3 123.8 94.8 38572 -1079' 468276 Nov 120.4" 106.7 1763.17 132.4 123,2t 103.2" 130.0 123.4 94.2 38470 -980 475793 1843.5 128.71 2 102.9 129.9 123,3f : -844 Percentage change, latest three months on previous three months -1.0 -0.2 -5.1 -0.8 1.3 -0.3 1.0 -5.2 1.2 1.7 -0.1 1.8 -5.5 -2.2 2.1 -0.6 0.6 -5.2 -3.8 2.9 0.6 -0.2 -4.2 -6.1 29 1990 Jan 0.4 -0.6 -3.5 6.7 28 Feb ‘on -0.4 -28 6.4 2.4 Mar 0.6 : -2.4 3.2 28 Apr 0.9 o.gt “1.5 -1.4 26 May 0.2 1.4 -0.9 -0.9 27 0.5 1.8 ‘ -3.0 22 0.2 0.3 0.7 7.5 2.3 -0.5 “1.1 4.7 -11.4 2.0 -0.7 -3.3 25 -14.0 1.8 -1.4 -2.8 3.5 -15.1 ; -1.at -2.3 4.7 -17.4 1.8t z.1t -19,21 latest three months on corresponding period of previous year 1.2 -0.5 -21.61 -11.3 9.0 1 -3.9 1.2 ; -21.7 -10.5 9.1 ’ ; -3.6 1.3 0.3 -21.9 -10.8 9.5 ; ; -4.9 1.1 -0.1 -21.6 -11.7 96 ’ 6.3 1.0 0.2 -20.5 -14.4 8.7 ; -8.9 1.5 0.1 -19.4 -14.8 8.6 : -10.2 21 : -18.1 -14.9 8.4 ; : -9.9 1.5 0.2 -16.9 -13.3 9.1 : -9.1 1.6 0.4 -15.1 12.2 9.3 -8.6 1.2 1.5 -13.4 -11.4 9.7 | ; -8.2 17 2et -11.4 -12.9 10.0 tt } , 5.4 1.7 23 -9.6 -16.8 10.2 f. ) 21 1.4 0.5 “7.1 -20.9 10.4 1. ! 1.5 1.0 -1.8 -4,2 -24,2 10.1 -0.7 ’ 27 Be -23 -1.0 -27.8 9.8 -0. } 4.1 -0.4 -2.4 26 -32.1 g.at =f ; 5.2 = 7.1 -34.8 1 Minor revisions have been made to seasonally adjusted figures previously Sources: Department of Trade and Industry; published . These reflect the routine updating of the seasonal adjustment Department of Empolovment: factor. bank of Engiana 2 National accounts aggregates Implied gross domestic product deflators based Gross domestic product on expenditure data At current prices At 1985 prices Gross national At market prices At factor cost At factor cost disposable income: Expend- Average Expend- average iture- Income- estimate at iture- Income- Output- estimate at Average Aver. based based market Average based based based 1985 market At market estimate estimat estimate estimate prices estimate estimate estimate? —_estimate* prices prices (Emn) (1985=100) (€mn) (mn) (1985=100) (1985=100) (1985=100) (1985=100) (1985=100) (1985=100) (1985=100) CAOB DJCL DJAE DJAL FNAO DJDD DJDE DIAR DIGW DJCR DJDT 231 852 65.1 201870 200323 90.8 90.7 91.0 90.4 90.7 89.9 71.7 254 934 71.6 220348 218096 89.6 89.6 90.2 89.4 89.3 89.6 79.8 278 974 78.3 239002 237 806 91.2 91.2 91.4 91.0 91.1 91.1 85.9 304 448 85.5 262335 261 584 94.5 94.6 95.0 94.8 94.1 95.1 90.4 325 266 91.3 279887 279608 96.6 96.3 96.2 96.2 96.7 97.2 94.6 356 216 100.0 306975 306723 100.0 100.0 100.0 100.0 100.0 100.0 100.0 382 947 107.5 326809 326789 103.8 103.6 103.7 103.8 103.2 103.6 103.5 420 617 118.1 358717 357621 108.5 108.0 108.2 108.0 107.7 107.7 108.8 468 208 131.4 397902 399113 113.2 112.7 112.5 113.0 112.5 113.3 116.1 509 808 143.1 435190 435 086 115.5 114.8 114.7 114.8 114.9 115.8 123.9 DJBA DJBE 91 498 102.7. 78659 78619 100.7 100.7 100.7 100.8 100.6 100.7 102.1 92 884 104.3 79598 79611 102.1 101.8 101.9 102.0 101.5 102.7 102.2 94 875 106.5 80946 81060 103.3 103.1 103.2 103.5 102.7 103.0 103.2 96 393 108.2 82156 82059 104.4 104.2 104.4 104.3 103.8 103.8 103.7 98 795 110.9 84109 84059 105.6 105.2 105.4 105.4 104.8 104.9 105.1 100 476 112.8 85830 85546 106.2 105.7 105.9 105.7 105.4 105.2 106.3 103 657 116.4 88508 88193 107.6 107.2 107.5 107.2 106.9 106.8 108.2 106 930 120.1 91044 90754 109.8 109.1 109.4 109.1 108.9 109.0 109.4 109 554 123.0 93335 93128 110.7 110.0 110.2 110.0 109.7 109.9 111.2 111 868 125.6 95311 95525 111.9 111.5 111.5 111.8 111.2 111.0 112.3 115 532 129.7. 98010 98317 12:7 112.2 112.0 112.5 111.9 112.5 115.1 118 635 133.2 100656 101 006 113.8 113.3 113.1 113.6 113.1 114.7 117.1 122 173 137.2 103925 104 265 114.5 113.7 113.6 114.0 113.6 114.8 119.8 124 487 139.8 106231 106 286 115.0 114.5 114.4 114.6 114.5 116.5 121.5 126 664 142.2 108101 107994 115.1 114.3 114.2 114.2 114.4 116.0 123.6 127 582 143.3 108839 108 883 115.7 114.9 114.8 114.9 115.0 114.8 123.9 131 075 147.2 112019 111923 116.4 115.4 115.3 115.3 115.6 115.9 126.5 134 161 150.7 114867 114846 117.2 116.5 116.4 116.5 116.6 117.7 128.5 136 489 153.3 118521 118494 117.9 117.0 116.9 116.9 117.1 118.0 130.0 137 363 154.2 119461 119436 116.3 115.6 115.5 115.6 115.7 117.8 132.6 Percentage change, quarter on corresponding quarter of previous year? 1985 Q4 9.5 9.5 8.9 9.0 3.5 6.7 6.8 3.1 5.8 6.0 3.2 6.4 6.4 4.2 6.9 6.9 4.9 7.8 7.5 4.0 9.3 8.8 4.2 10.8 10.6 5.1 11.0 10.8 4.8 11.0 37 5.4 10.7 11.5 4.8 10.6 11.3 3.7 11.3 12.0 3.5 11.5 11.3 2.8 10.3 9.8 2.1 8.1 7.8 1.6 7.8 7.3 1.6 8.1 8.1 1.9 9.6 9.7 2.4 9.8 9.7 0.6 1 These series are affected by the abolition of domestic rates and the intro- 5 Also known as Real national disposable income (RNDI). duction of the Community Charge. For details, see notes in the UK National 6 Also known as the Index of total home costs. : note pg in this issue. 7 These estimates of change are based in some cases on less rounded figures Money - than in the table. 3 Income data deflated by the implied GDP deflator at factor cost based on expenditure data. 4 New version, see notes section in the UK National Accounts article in this issue