National Institute Economic Review

The February issue of the Review was affected by the energy situation as to both length and the need for special treatment of the oil situation. Much material of the kind normally included in the pre-Budget issue was therefore omitted. For this reason the current issue contains rather more material than usual on the domestic economy in the form of a review of economic events over the last 12-18 months. A general review (pages 9-14) is followed by an assessment of various forecasts of the economy in 1973 (page 14) and then some discussion of the behaviour of prices and incomes since the introduction of the counter-inflation policy in November 1972 (page 17). Balance of payments developments are discussed on page 22. An analysis of trade and other developments since the United Kingdom's entry into the EEC begins on page 24 and the normal short-term forecast appears on pages 28-45.