National Institute of Economic and Social Research National

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National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

AS P SRAS P T Q National Institute of Economic and Social Research

AS P SRAS P T Q National Institute of Economic and Social Research

AS P SRAS T D Q National Institute of Economic and Social Research

AS P SRAS T D Q National Institute of Economic and Social Research

q/q % Peak Trough National Institute of Economic and Social Research

q/q % Peak Trough National Institute of Economic and Social Research

£mn 2013 Trend is your friend! National Institute of Economic and Social Research

£mn 2013 Trend is your friend! National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

y/y growth National Institute of Economic and Social Research

y/y growth National Institute of Economic and Social Research

Freq. UK annual GDP Growth in ranges and by frequency Growth National Institute of

Freq. UK annual GDP Growth in ranges and by frequency Growth National Institute of Economic and Social Research

Freq. Growth National Institute of Economic and Social Research

Freq. Growth National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

5 4 1956 3 1957 2 1961 1 1975 0 1980 -1 t=0 t+1

5 4 1956 3 1957 2 1961 1 1975 0 1980 -1 t=0 t+1 t+2 t+3 t+4 t+5 t+6 t+7 1990 2008 -2 -3 National Institute of Economic and Social Research

110 108 106 104 102 100 98 96 94 92 90 1956 1957 1961

110 108 106 104 102 100 98 96 94 92 90 1956 1957 1961 1975 1980 1990 2008 t=0 t+1 t+2 t+3 t+4 t+5 t+6 t+7 t+8 National Institute of Economic and Social Research

National Institute of Economic and Social Research

National Institute of Economic and Social Research

Concluding Remarks National Institute of Economic and Social Research

Concluding Remarks National Institute of Economic and Social Research