Chapter 21
The determination of national income

Data on the long-term evolution of consumption and income is available most easily in Economic Trends, Annual Supplement published by the Office of National Statistics. OECD Economic Outlook (see also www.oecd.org) regularly discusses consumption and saving behaviour in all the major countries. Past issues contain discussion of collapse of the saving rate in the boom of the later 1980s (see around 1990), and of the subsequent collapse of property prices in the UK, the USA and Japan (see around 1994) with a consequent rise in the saving rate in order to repay debt. This remains the best source for keeping comparing future trends in the saving rate in the UK and elsewhere.

Copyright Peter Smith 2000 - all rights reserved