STATISTICAL APPENDIX
Data are included up to the end of he latest quarter, if they are
available at the time of going to press.
Table 1
Gross domestic product
[pounds sterling] billion, 1995 prices, seasonally adjusted
Final consumption Gross capital
Domestic
expenditure formation demand
Households General Gross Change in
& NPISH (a) gov't fixed in inven-
vestment (b) tories
1998 514.5 145.0 148.3 5.2 812.9
1999 537.5 149.4 149.1 6.5 842.5
2000 565.3 152.5 152.0 6.0 875.8
2001 588.3 156.4 153.5 0.7 898.9
2002 611.0 162.3 148.6 -0.4 921.4
1998 Q1 127.0 35.6 36.1 1.1 199.8
1998 Q2 128.2 36.2 37.2 0.3 202,0
1998 Q3 129.2 36.4 37.2 1.6 204.4
1998 Q4 130.1 36.7 37.8 2.1 206.7
1999 Q1 132.3 37.1 37.3 1.8 208.5
1999 Q2 133.8 37.1 36.9 0.4 208.3
1999 Q3 134.6 37.5 36.9 1.9 211.0
1999 Q4 136.7 37.7 38.0 2.3 214.7
2000 Q1 139.1 37.8 37.1 1.0 215.0
2000 Q2 140.6 38.1 37.4 2.3 218.5
2000 Q3 142.2 38.4 37.8 2.0 220.4
2000 Q4 143.3 38.2 39.7 0.6 221.9
2001 Q1 145.0 38.6 38.7 0.6 222.8
2001 Q2 145.9 38.6 38.8 0.6 224.0
2001 Q3 147.8 39.2 38.3 -0.3 225.0
2001 Q4 149.6 40.0 37.7 -0.2 227.1
2002 Q1 150.5 40.8 36.9 -0.1 228.2
2002 Q2 152.2 40.2 37.2 -1.9 227.8
2002 Q3 153.3 40.4 37.1 0.1 231.0
2002 Q4 154.9 40.8 37.3 1.5 234.6
Total Gross Total Residual GDP Adjust-
exports final imports at ment to
expendi- market basic
ture prices prices
1998 245.8 1058.7 272.9 0.0 785.8 85.1
1999 258.9 1101.4 296.7 0.0 804.7 88.9
2000 285.1 1160.9 331.4 0.0 829.5 91.8
2001 287.7 1186.2 339.1 -0.4 847.0 96.1
2002 284.8 1206.5 344.2 0.2 862.3 101.3
1998 Q1 60.8 260.6 66.2 0.0 194.4 21.2
1998 Q2 61.8 263.8 67.9 0.0 196.0 21.2
1998 Q3 61.7 266.1 68.8 0.0 197.3 21.3
1998 Q4 61.4 268.1 70.0 0.0 198.1 21.4
1999 Q1 61.4 269.8 71.3 0.0 198.6 21.9
1999 Q2 63.4 271.6 71.9 0.0 199.7 21.8
1999 Q3 66.6 277.6 75.7 0.0 202.0 22.3
1999 Q4 67.5 282.3 77.8 0.0 204.5 22.8
2000 Q1 68.7 283.7 78.3 0.0 205.4 22.8
2000 Q2 70.9 289.3 82.4 0.0 206.9 22.9
2000 Q3 72.2 292.6 84.5 0.0 208.1 23.0
2000 Q4 73.4 295.3 86.2 0.0 209.1 23.2
2001 Q1 74.4 297.1 86.3 -0.1 210.8 23.5
2001 Q2 72.6 296.5 85.3 -0.1 211.2 23.8
2001 Q3 70.7 295.5 83.5 -0.1 212.1 24.2
2001 Q4 70.0 297.0 84.0 -0.1 213.0 24.6
2002 Q1 70.2 298.3 85.1 0.0 213.3 24.8
2002 Q2 72.9 300.7 86.2 0.1 214.5 25.2
2002 Q3 72.1 303.2 86.4 0.1 216.8 25.5
2002 Q4 69.6 304.2 86.6 0.1 217.7 25.8
Gross Induces of gross domestic
value product (1995=100)
added From From From
at basic output expen- income
prices diture
1998 700.7 109.5 109.5 109.5
1999 715.9 111.9 111.9 111.9
2000 737.7 115.3 115.3 115.3
2001 751.0 117.4 117.4 117.2
2002 761.0 118.9 118.9 118.7
1998 Q1 173.1 108.2 108.2 108.2
1998 Q2 174.7 109.2 109.2 109.2
1998 Q3 176.0 110.0 110.0 110.0
1998 Q4 176.8 110.5 110.5 110.5
1999 Q1 176.7 110.4 110.4 110.4
1999 Q2 177.9 111.2 111.2 111.2
1999 Q3 179.7 112.3 112.3 112.3
1999 Q4 181.6 113.5 113.5 113.5
2000 Q1 182.6 114.1 114.1 114.1
2000 Q2 184.0 115.0 115.0 115.0
2000 Q3 185.2 115.8 115.8 115.8
2000 Q4 185.9 116.2 116.2 116.2
2001 Q1 187.3 117.1 117.1 117.0
2001 Q2 187.4 117.1 117.2 117.0
2001 Q3 187.9 117.5 117.5 117.3
2001 Q4 188.4 117.8 117.8 117.6
2002 Q1 188.5 117.8 117.8 117.6
2002 Q2 189.4 118.4 118.3 118.2
2002 Q3 191.3 119.6 119.5 119.4
2002 Q4 191.8 119.9 119.8 119.7
Source: Economic Trends, Quarterly National Accounts Supplement.
(a)Non-profit institutions serving households.
(b)Includes acquisitions less disposals of valuables.
Table 2
Output volumes
Seasonally adjusted 1995=100
GDP at basic prices Production industries
Average Non-oil Manufacturing Oil and
estimate estimate gas (a)
1998 109.5 109.5 102.8 107.5
1999 111.9 111.8 103.1 112.2
2000 115.3 115.4 105.2 110.7
2001 117.4 117.6 102.7 105.3
2002 118.9 119.3 98.6 102.1
1998 Q1 108.2 108.3 102.9 104.0
1998 Q2 109.2 109.2 103.5 107.0
1998 Q3 110.0 110.0 102.9 108.9
1998 Q4 110.5 110.5 102.0 110.0
1999 Q1 110.4 110.4 101.9 110.3
1999 Q2 111.2 111.2 102.5 111.9
1999 Q3 112.3 112.3 104.0 113.3
1999 Q4 113.5 113.5 104.2 113.2
2000 Q1 114.1 114.1 103.9 113.6
2000 Q2 115.0 115.0 105.0 114.6
2000 Q3 115.8 115.9 105.5 111.7
2000 Q4 116.2 116.5 106.3 102.9
2001 Q1 117.1 117.4 105.6 103.2
2001 Q2 117.1 117.3 103.4 107.1
2001 Q3 117.5 117.7 102.0 108.3
2001 Q4 117.8 118.1 99.8 102.4
2002 Q1 117.8 118.2 98.9 100.6
2002 Q2 118.4 118.7 98.2 106.8
2002 Q3 119.6 120.0 99.2 99.2
2002 Q4 119.9 120.3 98.2 101.7
Service industries Construction
Distribution Business Imputed Public
services (b) rent (c) services
1998 112.9 121.7 105.8 105.5 107.0
1999 116.0 127.3 107.8 107.5 107.8
2000 118.5 133.2 108.7 109.6 109.7
2001 121.3 140.9 109.7 112.0 113.7
2002 126.2 143.5 111.6 115.0 122.3
1998 Q1 111.1 117.9 105.5 104.7 109.9
1998 Q2 112.2 120.9 105.9 105.3 106.1
1998 Q3 113.7 122.8 105.6 105.8 105.9
1998 Q4 114.5 125.0 106.2 106.3 106.0
1999 Q1 115.0 125.0 106.9 106.6 106.3
1999 Q2 115.4 125.6 108.0 107.2 106.9
1999 Q3 116.7 126.8 108.2 107.9 108.7
1999 Q4 117.0 131.9 108.2 108.5 109.3
2000 Q1 117.2 131.6 108.3 109.0 112.1
2000 Q2 118.5 131.9 108.1 109.3 109.7
2000 Q3 118.9 134.8 108.8 109.9 107.9
2000 Q4 119.5 (34.4 109.5 110.3 109.2
2001 Q1 120.2 138.3 109.6 110.9 111.5
2001 Q2 120.4 140.7 109.3 111.4 113.1
2001 Q3 121.5 141.3 109.6 112.3 114.1
2001 Q4 123.2 143.1 110.3 113.3 116.1
2002 Q1 124.6 141.6 110.8 113.9 119.6
2002 Q2 125.9 142.4 111.1 114.7 120.9
2002 Q3 126.8 145.4 112.0 115.6 123.1
2002 Q4 127.6 144.5 112.6 115.9 125.4
Rest (d)
1998 111.0
1999 113.3
2000 119.6
2001 122.1
2002 123.7
1998 Q1 109.1
1998 Q2 110.4
1998 Q3 112.0
1998 Q4 112.6
1999 Q1 111.4
1999 Q2 112.9
1999 Q3 113.7
1999 Q4 115.0
2000 Q1 117.0
2000 Q2 119.4
2000 Q3 120.2
2000 Q4 121.7
2001 Q1 122.1
2001 Q2 121.6
2001 Q3 122.2
2001 Q4 122.6
2002 Q1 122.4
2002 Q2 122.7
2002 Q3 124.2
2002 Q4 125.6
Source: Economic Trends, Quarterly National Accounts Supplement.
(a)Extraction of mineral oil and gas.
(b)Financial intermediation (less adjustment for financial services).
real estate, renting other than dwellings), and business activities.
(c)Letting of dwellings including imputed rent of owner occupiers.
(d)Agriculture. coalmining, electricity, gas and water, transport and
communications.
Table 3
Monthly economic indicators
Seasonaly adjusted
GDP (a) (b) Industrial Manu- Retail
production (a) facturing sales (a)
output (a)
Sept. 2000 116.0 106.2 105.8 121.9
Oct. 2000 116.0 106.3 106.1 122.2
Nov. 2000 116.1 106.2 106.0 122.4
Dec. 2000 116.7 106.3 106.8 123.5
Jan. 2001 116.9 106.1 105.8 124.7
Feb. 2001 117.3 105.6 105.7 124.8
March 2001 117.4 105.6 105.3 125.1
April 2001 117.4 105.0 104.0 125.9
May 2001 117.4 103.8 102.9 127.0
June 2001 117.7 104.1 103.2 127.3
July 2001 117.5 103.4 101.8 128.0
August 2001 118.5 104.0 102.9 128.7
Sept. 2001 118.1 102.7 101.4 129.6
Oct. 2001 118.3 101.3 100.5 129.1
Nov. 2001 118.6 100.9 99.5 131.4
Dec. 2001 118.6 100.8 99.4 130.2
Jan. 2002 118.4 100.0 98.7 131.1
Feb. 2002 118.8 99.8 99.2 132.3
March 2002 118.7 99.7 98.9 132.4
April 2002 119.7 100.9 99.5 134.7
May 2002 120.0 101.8 100.2 133.9
June 2002 118.1 97.6 94.9 133.5
July 2002 121.0 100.6 99.2 134.1
August 2002 120.1 100.6 99.3 135.3
Sept. 2002 120.8 100.2 99.1 135.6
Oct. 2002 120.9 100.0 97.9 136.7
Nov. 2002 121.2 99.6 98.5 136.7
Dec. 2002 121.2 99.4 98.1 138.1
Jan. 2003 121.2 99.2 98.3 136.7
Feb. 2003 121.5 99.9 98.6 136.6
March 2003 121.6 137.0
Unemploy- PSNCR RPI excl.
ment rate [pounds mortgage
% sterling]m (d) interest (c) (d)
Sept. 2000 3.5 -8731 2.2
Oct. 2000 3.5 -7339 2.0
Nov. 2000 3.4 2343 2.2
Dec. 2000 3.4 8650 2.0
Jan. 2001 3.3 -16339 1.8
Feb. 2001 3.3 -2779 1.9
March 2001 3.3 6546 1.9
April 2001 3.2 -4254 2.0
May 2001 3.2 2589 2.4
June 2001 3.2 7982 2.4
July 2001 3.2 -9464 2.2
August 2001 3.2 -295 2.6
Sept. 2001 3.2 3627 2.3
Oct. 2001 3.2 -5899 2.3
Nov. 2001 3.2 5964 1.8
Dec. 2001 3.2 9409 1.9
Jan. 2002 3.2 -12002 2.6
Feb. 2002 3.1 -2112 2.2
March 2002 3.1 7783 2.3
April 2002 3.2 -3038 2.3
May 2002 3.2 2751 1.8
June 2002 3.2 7350 1.5
July 2002 3.1 -6805 2.0
August 2002 3.1 2178 1.9
Sept. 2002 3.1 5327 2.1
Oct. 2002 3.1 -2441 2.3
Nov. 2002 3.1 6667 2.8
Dec. 2002 3.1 11435 2.7
Jan. 2003 3.1 -11823 2.7
Feb. 2003 3.1 -310 3.0
March 2003
3-month 20-year Effective M4
interbank gilt rate exchange [pounds
rate %p.a. (d) %p.a. (d) (e) rate (a) (d) sterling]m
Sept. 2000 6.13 4.86 106.21 866846
Oct. 2000 6.06 4.81 109.19 874612
Nov. 2000 5.97 4.59 107.27 873879
Dec. 2000 5.84 4.49 106.39 882616
Jan. 2001 5.72 4.51 104.39 892732
Feb. 2001 5.56 4.57 104.14 894804
March 2001 5.47 4.56 105.02 901169
April 2001 5.28 4.86 105.85 904844
May 2001 5.19 4.99 106.56 908900
June 2001 5.25 5.07 106.77 914946
July 2001 5.22 5.03 107.16 920120
August 2001 4.88 4.81 105.09 927498
Sept. 2001 4.47 4.93 106.06 934940
Oct. 2001 4.19 4.80 105.78 940154
Nov. 2001 4.00 4.51 106.14 942107
Dec. 2001 4.06 4.75 106.46 940012
Jan. 2002 4.03 4.81 106.90 944178
Feb. 2002 4.00 4.83 107.36 951739
March 2002 4.16 5.11 106.48 951083
April 2002 4.13 5.13 107.13 955968
May 2002 4.13 5.18 105.32 960489
June 2002 4.09 5.02 103.58 967817
July 2002 3.97 4.90 105.29 972299
August 2002 3.97 4.64 105.38 978221
Sept. 2002 3.91 4.4S 106.46 984663
Oct. 2002 3.91 4.59 106.67 990668
Nov. 2002 3.98 4.64 105.87 996640
Dec. 2002 3.96 4.62 105.48 1004728
Jan. 2003 3.91 4.44 104.04 1005879
Feb. 2003 3.64 4.39 102.42 1013921
March 2003 3.61 100.60
(a) 1995=100.Constant market prices.
(b) See National Institute Economic Review. no. 161. p.84.
(c) % increase over 12 months.
(d) Note seasonally adjusted.
(e) Redemption yield on notional zero-coupon stock.
Table 4
CBI Industrial Trends Survey: manufacturing
Investment (a)
Survey Business Capacity
date Buildings Plant and optimism
machinery (b) (c)
Oct. 1997 -8 9 2 45
Jan. 1998 -4 6 -11 42
April 1998 -19 -11 -22 54
July 1998 -26 -21 -44 57
Oct. 1998 -36 -32 -58 65
Jan. 1999 -35 -21 -40 63
April 1999 -40 -29 -6 66
July 1999 -18 -8 5 58
Oct. 1999 -21 -11 13 60
Jan. 2000 -18 -9 9 61
April 2000 -30 -21 -2 62
July 2000 -30 -21 -10 56
Oct. 2000 -29 -18 -9 59
Jan. 2001 -22 -9 -3 57
April 200I -23 -7 -29 64
July 2001 -23 -15 -22 67
Oct. 2001 -29 -28 -54 59
Jan. 2002 -29 -28 -31 66
April 2002 -30 -25 21 72
July 2002 -18 -13 4 67
Oct. 2002 -27 -25 -19 67
Jan. 2003 -28 -22 -19 74
Survey Export Output Prices Numbers Stocks
date optimism employed
(b) (d)
Oct. 1997 -15 20 2 -13 15
Jan. 1998 -22 9 1 0 17
April 1998 -48 3 -8 -15 15
July 1998 -50 -8 -15 -16 12
Oct. 1998 -41 -29 -18 -32 26
Jan. 1999 -18 -13 -21 -33 23
April 1999 -17 -1 -16 -24 19
July 1999 -9 -4 -19 -21 19
Oct. 1999 -5 12 -10 -16 12
Jan. 2000 2 11 -4 -12 8
April 2000 -10 1 -13 -13 14
July 2000 -18 3 -15 -12 12
Oct. 2000 -6 3 -12 -8 10
Jan. 2001 7 14 4 -12 9
April 200I -16 -2 -13 -19 12
July 2001 -25 3 -16 -27 13
Oct. 2001 -53 -23 -21 -25 19
Jan. 2002 -26 -13 -23 -41 9
April 2002 11 14 -10 -23 19
July 2002 4 9 -10 -18 11
Oct. 2002 -14 8 -8 -23 16
Jan. 2003 -22 2 -12 0 11
Limiting factors (f)
Survey Export
date orders Skilled Cost of
(e) labour finance
Oct. 1997 -33 17 6
Jan. 1998 -31 14 3
April 1998 -43 15 4
July 1998 -50 12 5
Oct. 1998 -55 8 6
Jan. 1999 -45 12 4
April 1999 -44 6 3
July 1999 -38 9 3
Oct. 1999 -35 11
Jan. 2000 -30 13 4
April 2000 -29 14 3
July 2000 -41 16 3
Oct. 2000 -28 17 3
Jan. 2001 -14 18 5
April 200I -28 17 3
July 2001 -35 15 2
Oct. 2001 -44 13 5
Jan. 2002 -42 8 2
April 2002 -34 9 1
July 2002 -34 9 2
Oct. 2002 -34 10 2
Jan. 2003 -34 9 2
(a)The difference between the percentage of respondents expected to
authorise more expenditure over the next 12 months and those expecting
to authorise less.
(b)Balance between those more optimistic about the business situation
than 4 months previously and those less optimistic.
(c)Figures indicate percentage of respondents working below capacity.
(d)Balance between with more than adequate stocks of finished goods and
those with less than adequate stocks.
(e)Balance between those with above normal and below normal export order
book.
(f)Four month forecast of impact of skilled labour shortages on output.
Twelve month forecast of impact of cost of finance on capital
expenditure. (Per cent of respondents who regard factor as significant.)
Table 5
UK labour market
Thousands
Workforce jobs (a) UK
claimant
unemployment
Employee jobs Self Trainees Total Total
employ- & HM
Male Female ment forces
1998 12435 12228 3414 346 28423 1348
1999 12738 12404 3363 335 28840 1248
2000 12943 12660 3314 326 29243 1089
2001 13040 12820 3307 304 29472 970
2002 13005 12860 3367 298 29530 946
1998 Q1 12378 12165 3461 363 28367 1382
1998 Q2 12394 12242 3417 348 28401 1351
1998 Q3 12411 12269 3389 340 28409 1337
1998 Q4 12557 12234 3388 334 28513 1321
1999 Q1 12626 12297 3377 330 28631 1304
1999 Q2 12684 12381 3394 337 28796 1275
1999 Q3 12804 12433 3351 339 28926 1232
1999 Q4 12837 12507 3331 334 29009 1181
2000 Q1 12891 12534 3327 330 29082 1150
2000 Q2 12961 12608 3323 326 29218 1105
2000 Q3 12951 12719 3306 326 29302 1063
2000 Q4 12969 12778 3299 322 29369 1036
2001 Q1 12986 12812 3302 317 29417 995
2001 Q2 13044 12821 3314 308 29486 974
2001 Q3 13069 12808 3310 298 29484 954
2001 Q4 13062 12839 3304 295 29500 958
2002 Q1 13057 12872 3307 295 29531 948
2002 Q2 13019 12863 3346 298 29526 952
2002 Q3 12967 12858 3392 299 29516 947
2002 Q4 12978 12848 3421 299 59545 936
UK claimant unemployment Per cent
Rate (b) Duration not
Per cent employed
Under 26 Over 26 over 26
weeks weeks weeks
1998 4.5 728 620 46.0 19.4
1999 4.1 712 537 43.0 18.6
2000 3.6 655 433 39.8 17.9
2001 3.2 614 356 36.7 17.7
2002 3.1 624 321 34.0 18.0
1998 Q1 4.6 777 605 43.8 19.5
1998 Q2 4.5 688 663 49.1 19.4
1998 Q3 4.5 717 621 46.4 19.5
1998 Q4 4.4 730 590 44.7 19.3
1999 Q1 4.4 777 527 40.4 19.0
1999 Q2 4.2 686 589 46.2 18.7
1999 Q3 4.1 706 526 42.7 18.4
1999 Q4 3.9 677 504 42.7 18.3
2000 Q1 3.8 722 429 37.3 18.2
2000 Q2 3.6 622 483 43.7 17.9
2000 Q3 3.5 637 426 40.1 17.8
2000 Q4 3.4 641 395 38.1 17.7
2001 Q1 3.3 665 330 33.1 17.7
2001 Q2 3.2 575 399 41.0 17.6
2001 Q3 3.1 591 362 38.0 17.8
2001 Q4 3.1 626 333 34.7 17.8
2002 Q1 3.1 663 285 30.1 17.8
2002 Q2 3.1 599 352 37.0 18.0
2002 Q3 3.1 616 332 35.0 18.1
2002 Q4 3.1 620 316 33.8 18.1
Average Produc- Unit
earnings tivity labour
Growth rates
1998 5.3 2.0 4.0
1999 3.9 0.7 3.7
2000 4.6 1.6 3.3
2001 5.2 1.0 4.4
2002 4.2 1.1 2.9
1998 Q1 5.0 1.3 4.4
1998 Q2 6.5 2.3 4.8
1998 Q3 5.4 2.4 3.8
1998 Q4 4.1 1.8 2.9
1999 Q1 4.9 1.1 4.3
1999 Q2 3.6 0.4 3.6
1999 Q3 3.6 0.3 3.8
1999 Q4 3.6 1.0 3.2
2000 Q1 3.3 1.8 2.0
2000 Q2 4.3 2.0 2.9
2000 Q3 4.9 1.7 3.4
2000 Q4 5.9 1.1 5.1
2001 Q1 6.8 1.4 5.5
2001 Q2 5.7 0.9 4.9
2001 Q3 4.5 0.8 3.8
2001 Q4 4.0 0.9 3.2
2002 Q1 3.5 0.2 3.5
2002 Q2 4.2 0.9 3.1
2002 Q3 4.9 0.3 2.9
2002 Q4 4.4 1.7 2.2
Source: Labour Market Trends.
(a)Quarterly average, NIESR estimates.
(b)percentage of workforce.
Table 6
Prices
Seasonally adjusted, 1995 = 100
National accounts deflators
GDP GDP Consumers Public Fixed
at at expenditue sector investment
basic market consump-
prices prices tion
1998 108.8 109.4 108.3 106.8 101.7
1999 111.2 112.1 110.1 111.5 102.9
2000 113.6 114.6 110.8 116.6 104.6
2001 117.2 117.2 111.9 122.5 107.1
2002 121.5 121.0 112.8 128.8 110.7
1998 Q1 108.0 108.1 107.2 105.9 101.9
1998 Q2 108.6 109.0 108.1 106.0 102.0
1998 Q3 108.9 109.8 108.7 107.0 101.6
1998 Q4 109.7 110.6 109.3 108.3 101.5
1999 Q1 110.1 111.0 109.7 109.7 102.0
1999 Q2 111.1 111.9 109.9 111.7 102.8
1999 Q3 111.6 112.6 110.3 111.8 103.4
1999 Q4 112.1 113.1 110.4 112.7 103.5
2000 Q1 112.4 113.4 110.7 113.6 104.3
2000 Q2 113.5 114.5 110.6 116.0 105.1
2000 Q3 114.0 115.0 110.9 117.5 104.5
2000 Q4 114.5 115.4 111.3 119.2 104.4
2001 Q1 115.9 116.3 111.2 120.4 106.3
2001 Q2 116.9 117.1 111.9 121.8 107.1
2001 Q3 116.9 116.9 112.3 122.9 107.7
2001 Q4 119.1 118.7 112.1 124.8 107.3
2002 Q1 120.3 120.0 112.6 124.7 109.0
2002 Q2 121.3 120.6 112.5 128.6 110.8
2002 Q3 121.7 121.0 112.8 130.5 111.2
2002 Q4 122.9 122.3 113.1 131.2 111.8
National accounts Prodcuer prices (a) Retail prices
deflators (b)
Exports Imports Input Output All items
of goods of goods prices prices
and and
services services Index
1998 93.1 87.2 85.9 102.0 109.3
1999 91.4 85.0 83.1 101.6 111.0
2000 93.0 85.6 85.8 102.4 114.2
2001 93.1 85.5 86.1 102.6 116.3
2002 94.2 83.6 83.3 103.0 118.2
1998 Q1 93.9 88.8 87.6 102.1 107.5
1998 Q2 93.7 87.7 86.5 102.1 109.5
1998 Q3 93.0 86.5 85.3 102.0 109.8
1998 Q4 91.8 85.8 84.1 101.7 110.3
1999 Q1 91.3 85.7 83.1 101.6 109.8
1999 Q2 91.3 85.1 82.5 101.5 111.0
1999 Q3 91.3 84.8 83.0 101.5 111.1
1999 Q4 91.7 84.5 84.0 101.9 111.9
2000 Q1 91.7 85.2 84.4 102.1 112.4
2000 Q2 92.7 85.2 85.2 102.4 114.4
2000 Q3 93.5 85.5 86.5 102.5 114.6
2000 Q4 93.9 86.4 87.1 102.6 115.4
2001 Q1 94.3 86.4 87.9 102.6 115.2
2001 Q2 94.4 86.5 87.3 102.6 116.7
2001 Q3 90.6 85.2 85.2 102.6 116.7
2001 Q4 92.9 83.9 84.1 102.6 116.6
2002 Q1 93.7 83.3 83.1 102.7 116.7
2002 Q2 94.5 84.2 83.4 103.0 118.1
2002 Q3 93.6 83.9 83.7 103.1 118.5
2002 Q4 94.8 82.8 82.9 103.4 119.5
Retail prices (b)
All items RPIX RPIY
Annual
change
1998 3.4 108.6 107.0
1999 1.6 111.1 108.7
2000 2.9 113.4 110.7
2001 1.8 115.8 113.3
2002 1.6 118.4 115.9
1998 Q1 3.4 107.1 105.8
1998 Q2 4.0 108.8 107.1
1998 Q3 3.3 108.9 107.3
1998 Q4 2.9 109.6 107.8
1999 Q1 2.2 109.8 107.7
1999 Q2 1.4 111.3 108.8
1999 Q3 1.2 111.3 108.8
1999 Q4 1.5 112.0 109.6
2000 Q1 2.3 112.1 109.8
2000 Q2 3.1 113.6 110.7
2000 Q3 3.2 113.7 110.8
2000 Q4 3.1 114.3 111.5
2001 Q1 2.6 114.2 111.5
2001 Q2 1.9 116.2 113.6
2001 Q3 1.8 116.4 114.0
2001 Q4 1.0 116.6 114.2
2002 Q1 1.2 116.9 114.6
2002 Q2 1.2 118.3 115.7
2002 Q3 1.5 118.7 116.2
2002 Q4 2.5 119.6 117.3
Sources: Cols. 1-2, 4-8: Economic Trends; Cols 9-14; Monthly Digest of
Statistics; Col (3): CSO Consumer Price Tables.
(a)Excluding food, drink, tobacco and petroleum.
(b)Seasonally adjusted.
Table 7
Companies
[pounds sterling] million, seasonally adjusted
Operating Net Net Taxes on Social
surplus property transfers income contributions
income received
1998 192697 -41496 10374 32908 69769
1999 193437 -55238 9640 33565 76854
2000 203877 -50539 9287 35178 78768
2001 205261 -51278 9517 35364 79695
2002 220466 -44455 9125 30808 85282
1998 Q1 48046 -13139 3036 7732 17142
1998 Q2 48506 -10639 2113 7634 16882
1998 Q3 48498 -8144 2987 7821 17801
1998 Q4 47647 -9574 2238 9721 17944
1999 Q1 44922 -10498 3389 7602 18796
1999 Q2 48388 -18825 1367 7637 19223
1999 Q3 49836 -12198 3500 8558 19732
1999 Q4 50291 -13717 1384 9768 19103
2000 Q1 51419 -11631 3355 9512 17267
2000 Q2 52232 -12994 665 8868 19733
2000 Q3 50916 -11679 3933 8839 19150
2000 Q4 49310 -14235 1334 7959 22618
2001 Q1 50866 -12954 3814 9331 20557
2001 Q2 49949 -12148 -259 9255 19661
2001 Q3 51427 -11236 4412 8539 18524
2001 Q4 53019 -14940 1550 8239 20953
2002 Q1 53800 -10311 3708 7785 21154
2002 Q2 53862 -12844 -639 8469 21699
2002 Q3 56112 -10560 4490 8222 21029
2002 Q4 56692 -10740 1566 6332 21400
Financial
balance (c)
Social FISM (a) Gross Invest-
benefits disposable ment Total
paid income (b)
1998 53666 27998 116772 111841 -9152
1999 60769 30121 100238 112313 -25895
2000 65256 37949 103010 116528 -25659
2001 72312 40286 95233 113692 -23366
2002 71353 42509 125748 105434 8758
1998 Q1 12848 7543 26962 27113 -3520
1998 Q2 13462 6936 28830 27045 -1535
1998 Q3 13707 7664 31950 28033 225
1998 Q4 13649 5855 29030 29650 -4322
1999 Q1 14726 5764 28517 27051 -2408
1999 Q2 14667 6323 21526 26740 -9283
1999 Q3 15841 9909 26562 28973 -5772
1999 Q4 15535 8125 23633 29549 -8432
2000 Q1 14063 10304 26531 27960 -4490
2000 Q2 17140 8033 25595 29349 -5900
2000 Q3 16424 10653 26404 29694 -6069
2000 Q4 17629 8959 24480 29525 -9200
2001 Q1 18491 10979 23482 29375 -7851
2001 Q2 17612 6256 24080 29531 -6887
2001 Q3 17342 12670 24576 27786 -4328
2001 Q4 18867 10381 23095 27000 -4300
2002 Q1 17441 12449 30676 26056 1287
2002 Q2 18467 7085 28057 24361 1615
2002 Q3 18102 12597 32150 26803 2492
2002 Q4 17343 10378 34865 28214 3364
Financial Gearing (d)
balance (c)
% GDP
1998 -1.1 18.7
1999 -2.9 20.5
2000 -2.7 21.8
2001 -2.4 27.5
2002 0.8 32.9
1998 Q1 -1.7 18.1
1998 Q2 -0.7 17.3
1998 Q3 0.1 19.9
1998 Q4 -2.0 19.5
1999 Q1 -1.1 19.9
1999 Q2 -4.2 21.0
1999 Q3 -2.5 21.8
1999 Q4 -3.6 19.5
2000 Q1 -1.9 20.7
2000 Q2 -2.5 21.7
2000 Q3 -2.5 21.4
2000 Q4 -3.8 23.3
2001 Q1 -3.2 25.6
2001 Q2 -2.8 26.6
2001 Q3 -1.7 30.3
2001 Q4 -1.7 27.5
2002 Q1 0.5 26.9
2002 Q2 0.6 30.4
2002 Q3 0.9 37.8
2002 Q4 1.3 36.3
Source: Economic Trends Quarterly National Accounts Supplement.
(a)Financial Intermediation Services Indirectly Measured (subtracted to
avoid double- counting).
(b)Gross disposable income is equal to operating surplus, net property
income, net transfers and social contributions received, less taxes on
income and social benefits paid. It is also known as 'gross saving'. Net
transfers includes a number of small categories of income identified
separately by the ONS.
(c)The financial balance equals gross disposable income less investment
and capital transfers (not shown).
(d)Net debt as a proportion of the market value of private non-financial
companies.
Table 8
Household sector
[pounds sterling] million, seasonally adjusted
Resources
Operaiting Net proper- Net Social Employee
surplus ty income transfers benefits compen-
sation
1998 98560 71657 11381 170931 465058
1999 106277 71281 8757 181252 492724
2000 112490 72606 12120 191106 524890
2001 120256 77351 13694 207746 557751
2002 126309 72261 15190 211780 581553
1998 Q1 24196 19231 3028 41801 113319
1998 Q2 24536 17104 2910 42640 115585
1998 Q3 24742 17453 2799 43148 117258
1998 Q4 25086 17869 2644 43342 118896
1999 Q1 25638 15318 1793 44365 120688
1999 Q2 26223 21554 2146 44168 121847
1999 Q3 26974 16728 2286 45963 124237
1999 Q4 27442 17681 2532 46756 125952
2000 Q1 27835 17380 2505 45076 127219
2000 Q2 27829 17803 3180 48444 129623
2000 Q3 28253 18653 3050 47825 132521
2000 Q4 28573 18770 3385 49761 135527
2001 Q1 29259 20665 3354 51255 l37808
2001 Q2 29880 18297 3022 51423 138541
2001 Q3 30218 18415 3530 51264 139578
2001 Q4 30899 19974 3788 53804 141824
2002 Q1 31064 17841 4128 51922 143408
2002 Q2 31105 17954 3775 53688 144421
2002 Q3 31735 18018 3752 53392 146152
2002 Q4 32405 18448 3535 52778 147572
Uses
Taxes on Social con- Gross dispos- Gross Saving
income tributions able income (a) saving ratio
1998 106069 134869 576639 35392 6.0
1999 112460 139693 608339 32795 5.2
2000 122621 149581 641153 28085 4.3
2001 130443 155663 690758 40021 5.7
2002 131415 163529 712217 37199 5.1
1998 Q1 26001 32950 142699 10473 7.1
1998 Q2 26361 33189 143198 8582 5.8
1998 Q3 26095 34264 145012 8723 5.9
1998 Q4 27612 34466 145730 7614 5.1
1999 Q1 26987 34665 146184 5548 3.7
1999 Q2 27981 34720 153327 10786 6.8
1999 Q3 28899 35531 151805 7311 4.7
1999 Q4 28593 34777 157023 9150 5.7
2000 Q1 29151 34307 156570 6279 3.9
2000 Q2 30449 37437 159075 5979 3.7
2000 Q3 31047 37480 161802 7194 4.4
2000 Q4 31974 40357 163706 8633 5.1
2001 Q1 32723 39543 170021 11096 6.4
2001 Q2 32588 38278 170362 8824 5.1
2001 Q3 32451 37996 172588 8188 4.7
2001 Q4 32681 39846 177787 11913 6.6
2002 Q1 32759 40626 174984 9311 5.2
2002 Q2 32505 40634 177824 9449 5.2
2002 Q3 33008 41141 178924 9342 5.1
2002 Q4 33143 41128 180485 9097 4.9
Financial
Investment balance (b)
1998 34690 2819
1999 38488 -3140
2000 38190 -7266
2001 41601 2089
2002 46259 -5677
1998 Q1 8364 2701
1998 Q2 8948 83
1998 Q3 8998 214
1998 Q4 8380 -179
1999 Q1 9967 -3820
1999 Q2 9087 2242
1999 Q3 9316 -1373
1999 Q4 10118 -189
2000 Q1 9619 -2594
2000 Q2 9757 -3177
2000 Q3 9340 -1400
2000 Q4 9474 -95
2001 Q1 10373 1335
2001 Q2 10223 -20
2001 Q3 10520 -1443
2001 Q4 10485 2217
2002 Q1 10847 -650
2002 Q2 11446 -1386
2002 Q3 11934 -1738
2002 Q4 12032 -1903
Source: Economic Trends Quarterly National Accounts Supplement.
(a)Gross disposable income is equal to total resources less taxes and
social contributions.
(b)The household financial balance equals gross saving less investment
and capital transfers (not shown).
Table 9
Fixed investment and inventories
Seasonally adjusted
Business investment Housing
Manufacturing Non-manufacturing Total Private
[pounds sterling] million, 1995 prices
1998 20712 89530 110242 20967
1999 17689 94262 111951 20258
2000 17870 96103 113973 20560
2001 16986 98866 115852 19432
2002 14692 91927 106619 22091
1998 Q1 5334 21257 26591 5258
1998 Q2 5231 22457 27688 5319
1998 Q3 5077 22541 27618 5243
1998 Q4 5070 23275 28345 5147
1999 Q1 4563 23200 27763 5218
1999 Q2 4374 23232 27606 5181
1999 Q3 4274 23777 28051 4744
1999 Q4 4478 24053 28531 5115
2000 Q1 4597 22966 27563 5132
2000 Q2 4314 23468 27782 5348
2000 Q3 4482 24011 28493 5096
2000 Q4 4477 25658 30135 4984
2001 Q1 4471 24992 29463 4900
2001 Q2 4425 24970 29395 4672
2001 Q3 4040 24774 28814 4930
2001 Q4 4050 24130 28180 4930
2002 Q1 3741 22855 26596 5251
2002 Q2 3757 23046 26803 5558
2002 Q3 3610 22949 26559 5597
2002 Q4 3584 23077 26661 5685
Housing Change in inventories
Public General Total Manufacturing Distribution
govt (excl.
dwellings)
[pounds sterling] million, 1995 prices
1998 1779 9765 148260 500 1537
1999 1568 9880 149143 89 3236
2000 1510 10544 151986 2154 2324
2001 1737 10818 153468 -1381 154
2002 1625 12229 148592 -2913 1367
1998 Q1 436 2512 36075 -135 639
1998 Q2 446 2201 37235 -190 56
1998 Q3 487 2371 37189 -192 432
1998 Q4 410 2681 37761 1017 410
1999 Q1 338 2775 37296 -24 599
1999 Q2 520 2323 36893 -552 1017
1999 Q3 306 2415 36939 441 720
1999 Q4 404 2367 38015 224 900
2000 Q1 339 2516 37072 754 1010
2000 Q2 363 2639 37404 500 589
2000 Q3 352 2542 37793 383 869
2000 Q4 456 2847 39717 517 -144
2001 Q1 472 2430 38664 424 354
2001 Q2 374 2956 38819 -454 362
2001 Q3 443 2716 38255 -762 289
2001 Q4 448 2716 37730 -589 -851
2002 Q1 409 3377 36905 -123 167
2002 Q2 400 2897 37237 -1184 786
2002 Q3 399 2935 37140 -804 156
2002 Q4 417 3020 37310 -802 258
Change in inventories Stock-output
Other Total (a) Manufacturing Distribution
[pounds sterling] 1995 = 100
million, 1995 prices
1998 3156 5193 96.7 103.6
1999 3171 6496 97.2 107.0
2000 1536 6014 98.3 112.4
2001 1945 718 101.2 112.3
2002 1188 -358 100.6 109.0
1998 Q1 617 1121 96.6 104.3
1998 Q2 478 344 95.7 103.4
1998 Q3 1403 1643 95.9 103.2
1998 Q4 658 2085 98.6 103.5
1999 Q1 1234 1809 98.7 104.5
1999 Q2 -29 436 97.1 106.7
1999 Q3 787 1948 96.5 107.3
1999 Q4 1179 2303 96.7 109.3
2000 Q1 -751 1013 98.3 111.6
2000 Q2 1240 2329 98.2 111.8
2000 Q3 792 2044 98.4 113.5
2000 Q4 255 628 98.5 112.6
2001 Q1 -214 564 99.9 112.8
2001 Q2 727 635 101.2 113.5
2001 Q3 174 -299 101.2 113.2
2001 Q4 1258 -182 102.4 109.6
2002 Q1 -96 -52 103.1 108.8
2002 Q2 -1504 -1902 101.6 109.4
2002 Q3 744 96 99.0 109.0
2002 Q4 2044 1500 98.5 108.9
Stock-output
Whole economy
1995 = 100
1998 99.2
1999 101.9
2000 103.9
2001 104.2
2002 102.0
1998 Q1 99.1
1998 Q2 98.5
1998 Q3 99.0
1998 Q4 100.2
1999 Q1 101.7
1999 Q2 101.4
1999 Q3 101.8
1999 Q4 102.5
2000 Q1 102.7
2000 Q2 103.7
2000 Q3 104.6
2000 Q4 104.6
2001 Q1 104.3
2001 Q2 104.7
2001 Q3 104.2
2001 Q4 103.8
2002 Q1 103.7
2002 Q2 101.8
2002 Q3 100.8
2002 Q4 101.7
Sources: Economic Trends Quarterly National Supplement: NIESR
calculations.
(a)Includes acquisitions less disposals of valuables.
Table 10
Financial indicators
Nominal interest rate Exchange rates
Base Mortgage 10-year Effective Sterling
rate (c) bond (1990=
100) dollar
1998 7.2 7.7 5.5 103.9 1.66
1999 5.3 6.4 5.1 103.7 1.62
2000 6.0 6.8 5.3 107.5 1.52
2001 5.1 5.9 4.9 105.8 1.44
2002 4.0 5.0 4.9 106.0 1.50
1998 Q1 7.3 7.8 6.0 105.4 1.65
1998 Q2 7.3 7.8 5.8 105.3 1.65
1998 Q3 7.5 8.0 5.5 104.4 1.65
1998 Q4 6.9 7.3 4.8 100.6 1.68
1999 Q1 5.7 6.5 4.5 101.1 1.63
1999 Q2 5.2 6.4 4.9 104.1 1.61
1999 Q3 5.1 6.3 5.5 103.8 1.60
1999 Q4 5.4 6.5 5.5 105.9 1.63
2000 Q1 5.9 6.9 5.6 108.4 1.61
2000 Q2 6.0 6.9 5.3 107.7 1.53
2000 Q3 6.0 6.8 5.3 106.4 1.48
2000 Q4 6.0 6.7 5.1 107.6 1.45
2001 Q1 5.9 6.4 4.8 104.5 1.46
2001 Q2 5.4 6.1 5.1 106.4 1.42
2001 Q3 5.1 5.8 5.1 106.1 1.44
2001 Q4 4.2 5.2 4.8 106.1 1.44
2002 Q1 4.0 5.1 5.1 106.9 1.43
2002 Q2 4.0 5.0 5.2 105.3 1.46
2002 Q3 4.0 5.0 4.7 105.7 1.55
2002 Q4 4.0 5.0 4.6 106.0 1.57
Exchange Asset prices Monetary
rates aggregates
(a)
MO
Sterling Equity House
prices (d) prices (e) Total Annual
D-mark growth
rate
1998 2.91 159.4 125.7 27.2 5.7
1999 2.97 177.2 139.4 29.4 8.0
2000 3.21 184.9 160.2 31.5 7.2
2001 3.15 162.8 173.2 33.8 7.4
2002 3.12 135.1 201.8 36.3 7.6
1998 Q1 2.99 158.3 118.4 26.7 6.5
1998 Q2 2.96 169.8 124.7 26.9 5.3
1998 Q3 2.91 157.8 130.1 27.4 5.9
1998 Q4 2.79 151.9 129.6 27.7 5.3
1999 Q1 2.85 168.3 130.3 28.2 5.5
1999 Q2 2.97 180.0 135.9 28.9 7.6
1999 Q3 2.99 178.1 143.8 29.4 7.4
1999 Q4 3.07 182.3 147.5 30.9 11.6
2000 Q1 3.19 185.1 151.3 30.5 8.2
2000 Q2 3.21 182.9 159.5 31.2 7.7
2000 Q3 3.20 188.5 162.5 31.9 8.7
2000 Q4 3.26 183.3 167.4 32.3 4.4
2001 Q1 3.09 176.0 166.5 33.0 8.2
2001 Q2 3.18 170.0 172.5 33.3 6.8
2001 Q3 3.16 154.4 178.7 34.0 6.3
2001 Q4 3.15 150.8 175.1 34.9 8.2
2002 Q1 3.18 152.5 181.6 35.3 7.1
2002 Q2 3.12 148.8 196.2 36.4 9.5
2002 Q3 3.08 122.1 212.5 36.7 8.1
2002 Q4 3.08 116.8 217.0 36.8 5.4
Monetary aggregates (a) PSNCR (b)
MO M4
Total Annual
growth
rate
1998 760.5 6.4 -6598
1999 798.3 5.0 -1296
2000 857.7 7.4 -37562
2001 922.2 7.5 -2913
2002 976.8 5.9 17093
1998 Q1 738.2 4.4 -5260
1998 Q2 752.0 3.9 5386
1998 Q3 770.8 9.1 -2874
1998 Q4 781.2 8.5 -3850
1999 Q1 788.0 6.7 -5641
1999 Q2 794.9 5.7 5334
1999 Q3 796.2 3.3 -3185
1999 Q4 814.1 4.2 2196
2000 Q1 831.2 5.5 -12886
2000 Q2 849.8 6.9 -11831
2000 Q3 867.2 8.9 -16499
2000 Q4 882.5 8.4 3654
2001 Q1 900.6 8.4 -12572
2001 Q2 914.9 7.7 6317
2001 Q3 934.5 7.8 -6132
2001 Q4 939.0 6.4 9474
2002 Q1 950.5 5.5 -6331
2002 Q2 967.8 5.8 7063
2002 Q3 984.8 5.4 700
2002 Q4 1004.2 6.9 15661
Source: Financial Statistics. except for Col. 5: NIESR estimate.
(a)Seasonally adjusted. [pounds sterling] billion.
(b)Seasonnally adjusted. [pounds sterling] million.
(c)Average.
(d)FT All-share index.
(e)Department of Environment mix-adjusted series.
Table 11
UK balance of payments
Seasonally adjusted, [pounds sterling] million
Total balance of payments
Current balance Trade in goods
Total As per cent Exports Imports
of GDP
1998 -4814 -0.6 164056 185869
1999 -19656 -2.2 166166 193538
2000 -19120 -2.0 187936 218262
2001 -12485 -1.3 190050 223560
2002 -8686 -0.8 185848 220242
1998 Q1 -2456 -1.2 41513 46280
1998 Q2 -1108 -0.5 41627 46805
1998 Q3 983 0.5 40908 46594
1998 Q4 -2233 -1.0 40008 46190
1999 Q1 -5405 -2.5 38842 46582
1999 Q2 -5585 -2.5 40364 46633
1999 Q3 -3895 -1.7 43651 49742
1999 Q4 -4771 -2.1 43309 50581
2000 Q1 -3180 -1.4 44219 51177
2000 Q2 -5128 -2.2 46841 54026
2000 Q3 -3841 -1.6 47532 55607
2000 Q4 -6971 -2.9 49344 57452
2001 Q1 -1632 -0.7 49753 57448
2001 Q2 -4145 -1.7 48210 57168
2001 Q3 -2408 -1.0 46466 54620
2001 Q4 -4300 -1.7 45621 54324
2002 Q1 -1892 -0.7 45927 54058
2002 Q2 -2661 -1.0 49188 55690
2002 Q3 -1065 -0.4 46587 55477
2002 Q4 -3068 -1.2 44146 55017
Total balance of payments
Trade in services Blance of Net Transfers
Exports Imports goods & investment
services income
1998 64745 52079 -9147 12568 -8235
1999 70443 58649 -15578 2408 -6486
2000 77199 65361 -18488 9257 -9889
2001 77721 66421 -22210 16338 -6613
2002 82305 67365 -19454 19165 -8397
1998 Q1 15623 12569 -1713 1605 -2348
1998 Q2 16293 12753 -1638 1854 -1324
1998 Q3 16467 12936 -2155 4857 -1719
1998 Q4 16362 13821 -3641 4252 -2844
1999 Q1 17200 14500 -5040 1237 -1602
1999 Q2 17467 14579 -3381 -974 -1230
1999 Q3 17183 14443 -3351 1354 -1898
1999 Q4 18593 15127 -3806 791 -1756
2000 Q1 18788 15525 -3695 2495 -1980
2000 Q2 18857 16185 -4513 1445 -2060
2000 Q3 19943 16638 -4770 3710 -2781
2000 Q4 19611 17013 -5510 1607 -3068
2001 Q1 20383 17129 -4441 4952 -2143
2001 Q2 20353 16620 -5225 3777 -2697
2001 Q3 17538 16468 -7084 4888 -212
2001 Q4 19447 16204 -5460 2721 -1561
2002 Q1 19799 16828 -5160 5310 -2042
2002 Q2 19767 16919 -3654 2963 -1970
2002 Q3 20969 16999 -4920 5545 -1690
2002 Q4 21770 16619 -5720 5347 -2695
Net overseas assets (a)
Total Per cent
of
GDP(b)
1998 -135.2 -15.4
1999 -67.0 -7.2
2000 -28.8 -3.0
2001 -23.2 -2.3
2002 -37.2 -3.5
1998 Q1 -91.4 -10.9
1998 Q2 -97.4 -11.4
1998 Q3 -113.8 -13.1
1998 Q4 -135.2 -15.4
1999 Q1 -134.1 -15.2
1999 Q2 -113.8 -12.7
1999 Q3 -107.6 -11.8
1999 Q4 -67.0 -7.2
2000 Q1 -55.9 -6.0
2000 Q2 -14.8 -1.6
2000 Q3 -22.6 -2.4
2000 Q4 -28.8 -3.0
2001 Q1 -5.6 -0.6
2001 Q2 -13.5 -1.4
2001 Q3 -18.1 -1.8
2001 Q4 -23.2 -2.3
2002 Q1 -26.3 -2.6
2002 Q2 -12.4 -1.2
2002 Q3 -19.1 -1.8
2002 Q4 -37.2 -3.5
Source: Economic Trends Quarterly National Supplement.
(a)Not seasonally adjusted; annual totals are end-year.
(b)Annualised money GDP.
Table 12
Exports and imports
Seasonally adjusted, 1995=100
Total goods Total services
Exports Imports Exports
Volume Price Volume Price Volume Price
1998 120.8 93.1 131.8 87.2 128.7 100.8
1999 127.2 91.4 143.3 85.0 139.2 101.4
2000 140.1 93.0 160.1 85.6 148.0 104.4
2001 141.4 93.1 163.8 85.5 147.5 105.5
2002 139.9 94.2 166.2 83.6 149.5 110.1
1998 Q1 119.5 93.9 128.0 88.9 124.4 100.6
1998 Q2 121.5 93.7 131.1 87.8 128.5 101.5
1998 Q3 121.3 93.0 133.0 86.5 130.1 101.4
1998 Q4 120.7 91.8 135.2 85.8 131.8 99.5
1999 Q1 120.6 91.3 137.7 85.7 136.5 101.0
1999 Q2 124.5 91.3 139.0 85.1 139.0 100.7
1999 Q3 130.9 91.3 146.2 84.9 136.3 101.0
1999 Q4 132.7 91.7 150.3 84.5 144.9 102.8
2000 Q1 135.0 91.7 151.2 85.2 148.4 101.4
2000 Q2 139.3 92.7 159.2 85.2 145.0 104.2
2000 Q3 141.8 93.5 163.2 85.6 150.7 106.0
2000 Q4 144.3 93.9 166.2 86.4 148.0 106.2
2001 Q1 146.2 94.3 166.8 86.4 149.9 109.0
2001 Q2 142.7 94.4 164.8 86.5 150.1 108.6
2001 Q3 138.9 90.6 161.2 85.2 144.8 97.1
2001 Q4 137.7 92.9 161.3 84.0 145.1 107.3
2002 Q1 137.9 93.7 164.3 83.4 146.1 108.5
2002 Q2 143.4 94.6 166.5 84.3 144.9 109.3
2002 Q3 141.8 93.6 166.8 84.0 151.8 110.7
2002 Q4 136.7 94.8 167.2 82.8 155.9 111.9
Total services Competitors'
producer prices (a)
Imports
Volume Price US Japan Germany
1998 134.7 93.3 109.1 111.6 104.6
1999 151.6 93.4 113.5 129.5 101.6
2000 167.0 94.4 126.4 145.8 96.9
2001 165.7 96.7 133.9 132.9 102.0
2002 170.3 95.5 127.6 121.2 102.6
1998 Q1 131.6 92.2 109.8 115.3 102.3
1998 Q2 131.9 93.3 109.4 107.6 103.3
1998 Q3 133.9 93.3 109.3 103.9 104.6
1998 Q4 141.3 94.4 107.9 119.5 108.3
1999 Q1 147.9 94.7 110.6 125.0 105.1
1999 Q2 150.7 93.4 113.7 122.2 101.2
1999 Q3 150.1 92.9 115.3 130.9 101.2
1999 Q4 157.8 92.5 114.5 139.7 98.8
2000 Q1 162.0 92.5 117.6 139.4 96.0
2000 Q2 166.8 93.7 124.5 145.8 96.1
2000 Q3 168.2 95.5 129.9 149.2 98.1
2000 Q4 171.0 96.0 133.4 148.9 97.5
2001 Q1 168.5 98.1 132.3 136.6 103.7
2001 Q2 166.2 96.5 137.2 134.1 101.5
2001 Q3 165.7 95.9 134.4 132.5 101.9
2001 Q4 162.4 96.3 131.8 128.5 101.0
2002 Q1 168.7 96.3 132.8 121.1 100.5
2002 Q2 169.1 96.6 130.9 123.2 102.8
2002 Q3 172.1 95.3 123.9 122.9 103.5
2002 Q4 171.2 93.7 122.8 117.8 103.7
Source: Cols. 1-8: Economic Trends Quarterly Supplement and UK Visible
Trade Press Notice; Cols. Cols. 9-11 NIESR calculations.
(a)Sterling indices.
Table 13
Gross product and productivity in industrial countries and OECD
Seasonally adjusted, Index numbers, 1994-100
Gross domestic product
US Canada Japan France Germany Italy
Constant prices
1994 (a) 37.1 3.4 14.1 6.3 9.2 5.9
1998 115.8 113.3 106.1 108.5 105.9 108.1
1999 120.6 19.5 106.2 112.0 107.9 109.9
2000 125.1 124.9 109.2 116.6 111.3 113.3
2001 125.4 126.7 109.6 118.8 112.1 115.4
2002 128.5 131.0 110.0 120.1 112.3 115.8
1998 Q1 114.3 112.0 106.4 107.2 106.3 107.6
1998 Q2 114.9 112.3 105.4 108.4 105.6 108.0
1998 Q3 116.1 113.6 106.2 108.9 105.9 108.5
1998 Q4 118.0 115.4 106.3 109.5 106.0 108.0
1999 Q1 118.9 117.2 105.6 110.2 107.2 108.7
1999 Q2 119.4 118.5 106.4 111.3 106.7 109.3
1999 Q3 120.9 120.2 106.2 112.5 108.3 110.2
1999 Q4 123.0 122.0 106.7 113.9 109.5 111.3
2000 Q1 123.8 123.3 107.7 115.3 110.3 112.4
2000 Q2 125.3 124.2 108.8 116.3 111.5 112.8
2000 Q3 125.5 125.7 109.5 116.3 111.6 113.5
2000 Q4 125.8 126.3 110.9 118.2 111.6 114.5
2001 Q1 125.6 126.5 111.5 118.7 112.3 115.3
2001 Q2 125.1 126.6 110.0 118.6 112.3 115.4
2001 Q3 125.0 126.5 108.9 119.0 112.1 115.4
2001 Q4 125.9 127.4 108.2 118.7 111.7 115.3
2002 Q1 127.4 129.3 108.3 119.5 112.1 115.3
2002 Q2 127.8 130.6 109.8 120.0 112.2 115.5
2002 Q3 129.1 131.8 110.7 120.4 112.6 115.9
2002 Q4 129.5 132.3 111.3 120.6 112.5 116.4
Gross domestic Gross product per person emoloyed (b)
product
UK OECD US Canada Japan
Constant prices
1994 (a) 5.9 100.0
1998 112.4 112.4 108.4 105.1 105.1
1999 115.1 115.9 111.1 107.8 106.1
2000 118.7 120.3 112.7 109.8 109.4
2001 121.2 121.3 112.7 110.2 110.4
2002 123.4 115.8 111.4
1998 Q1 111.2 111.4 107.5 105.1 104.9
1998 Q2 112.2 111.8 107.7 104.6 104.2
1998 Q3 112.9 112.6 108.6 104.9 105.4
1998 Q4 113.4 113.6 109.7 105.8 105.9
1999 Q1 113.6 114.2 110.0 106.8 105.4
1999 Q2 114.3 115.1 110.3 107.2 106.3
1999 Q3 115.6 116.5 111.5 108.1 106.1
1999 Q4 117.0 117.9 112.8 108.9 106.6
2000 Q1 117.5 119.0 111.5 109.1 108.0
2000 Q2 118.4 120.2 112.6 109.5 109.1
2000 Q3 119.1 120.8 113.0 110.4 109.8
2000 Q4 119.7 121.3 112.7 110.2 110.7
2001 Q1 120.6 121.6 112.2 110.1 111.3
2001 Q2 120.9 121.2 112.3 110.1 110.7
2001 Q3 121.4 121.1 112.6 110.0 110.0
2001 Q4 121.9 121.4 113.7 110.6 109.5
2002 Q1 122.1 122.3 115.2 111.4 109.8
2002 Q2 122.8 923.0 115.4 111.6 112.2
2002 Q3 124.1 923.9 116.1 111.6 112.9
2002 Q4 124.6 116.7 111.1
Gross product per person emoloyed (b)
France Germany Italy UK
1994 (a)
1998 104.4 105.0 106.6 106.9
1999 105.4 105.7 107.1 107.9
2000 107.0 107.1 108.4 109.7
2001 107.3 107.4 108.2 111.1
2002 108.3 112.9
1998 Q1 104.1 106.2 106.4 106.0
1998 Q2 104.6 104.9 106.8 106.7
1998 Q3 104.5 104.7 107.0 107.4
1998 Q4 104.6 104.4 106.2 107.5
1999 Q1 104.6 105.4 106.4 107.3
1999 Q2 105.2 105.1 106.7 107.3
1999 Q3 105.5 105.8 107.2 108.0
1999 Q4 106.1 106.5 108.0 109.0
2000 Q1 106.7 106.7 108.8 109.2
2000 Q2 107.0 107.4 108.5 109.5
2000 Q3 106.8 107.2 108.2 109.9
2000 Q4 107.5 107.0 108.1 110.1
2001 Q1 107.5 107.6 108.2 110.8
2001 Q2 107.4 107.5 108.6 110.8
2001 Q3 107.5 107.4 108.1 111.3
2001 Q4 107.0 107.2 107.7 111.7
2002 Q1 107.8 107.6 106.6 111.7
2002 Q2 108.4 108.0 106.6 112.4
2002 Q3 108.7 107.2 113.6
2002 Q4 109.0 113.9
Sources: US Survey of Current Business, UK Economic Trends, OECD
Quarterly National Accounts.
(a)Per cent of OECD gross product in 1994 prices and 1994 purchasing
power parities.
(b)GDP divided by total civilian employment.
Table 14
Unemployment in industrial countries and OECD
Seasonally adjusted, per cent of total labour force
By national definitions
US Canada Japan France Germany Italy UK
1998 4.5 8.3 4.1 11.5 9.1 11.7 4.5
1999 4.2 7.6 4.6 10.7 8.4 11.3 4.1
2000 4.0 6.8 4.8 9.3 7.8 10.4 3.6
2001 4.8 7.2 5.0 8.7 7.8 9.4 3.2
2002 5.8 7.6 5.4 9.0 8.2 9.0 3.1
1998 4.6 8.6 3.7 11.7 9.6 11.6 4.6
1998 4.4 8.3 4.1 11.5 9.3 11.7 4.5
1998 4.5 8.2 4.3 11.4 8.9 11.7 4.5
1998 4.4 8.0 4.4 11.3 8.6 11.7 4.4
1999 4.3 7.9 4.6 11.2 8.6 11.5 4.4
1999 4.3 7.8 4.7 11.0 8.5 11.3 4.2
1999 4.3 7.5 4.7 10.5 8.4 11.2 4.1
1999 4.1 7.0 4.6 10.2 8.2 11.0 3.9
2000 4.0 6.8 4.8 9.8 7.9 10.9 3.8
2000 4.0 6.7 4.7 9.5 7.8 10.5 3.6
2000 4.0 6.9 4.7 9.2 7.7 10.3 3.5
2000 3.9 6.9 4.8 8.9 7.6 9.9 3.4
2001 4.2 6.9 4.7 8.7 7.6 9.7 3.3
2001 4.4 7.1 4.9 8.6 7.7 9.5 3.2
2001 4.8 7.2 5.1 8.7 7.8 9.4 3.1
2001 5.6 7.6 5.4 8.8 7.9 9.2 3.1
2002 5.6 7.8 5.3 8.9 8.0 9.0 3.1
2002 5.9 7.6 5.4 9.0 8.2 9.0 3.1
2002 5.8 7.6 5.4 9.0 8.3 9.0 3.1
2002 5.9 7.5 5.4 9.1 8.4 8.9 3.1
Standardised (a)
US Canada Japan France Germany Italy UK OECD total
1998 4.5 8.3 4.1 11.4 9.1 11.7 6.3 6.9
1999 4.2 7.6 4.7 10.7 8.4 11.3 6.0 6.7
2000 4.0 6.8 4.7 9.3 7.8 10.4 5.5 6.3
2001 4.8 7.2 5.0 8.5 7.8 9.5 5.1 6.5
2002 5.8 7.6 5.4 8.7 8.2 9.0 5.1 6.9
1998 4.6 8.6 3.7 11.5 9.6 11.6 6.3 6.8
1998 4.4 8.3 4.1 11.4 9.3 11.7 6.3 6.9
1998 4.5 8.2 4.3 11.3 8.9 11.7 6.3 6.9
1998 4.4 8.1 4.4 11.3 8.6 11.7 6.2 6.9
1999 4.3 7.9 4.6 11.2 8.6 11.5 6.2 6.8
1999 4.3 7.9 4.7 11.0 8.5 11.3 6.1 6.8
1999 4.3 7.5 4.7 10.6 8.4 11.2 5.9 6.7
1999 4.1 7.0 4.6 10.2 8.2 11.0 5.8 6.5
2000 4.0 6.8 4.8 9.8 7.9 10.9 5.8 6.4
2000 4.0 6.7 4.7 9.4 7.8 10.5 5.5 6.3
2000 4.0 6.9 4.7 9.1 7.7 10.3 5.4 6.3
2000 3.9 6.9 4.7 8.8 7.6 9.9 5.2 6.2
2001 4.2 6.9 4.8 8.6 7.6 9.7 5.1 6.2
2001 4.4 7.1 4.9 8.5 7.7 9.5 5.0 6.3
2001 4.8 7.2 5.1 8.5 7.8 9.4 5.1 6.5
2001 5.6 7.7 5.4 8.6 7.9 9.2 5.2 6.8
2002 5.6 7.8 5.3 8.6 8.0 9.0 5.1 6.8
2002 5.9 7.6 5.4 8.7 8.2 9.0 5.1 6.9
2002 5.8 7.6 5.4 8.8 8.3 9.0 5.3 6.9
2002 5.9 7.6 5.4 8.9 8.4 8.9 5.1 7.0
(a)US, Canada, Japan: OECD standardised definitions; France, Germany,
Italy, UK: Eurostat standardised definitions.
Table 15
Earnings and prices in OECD
Index numbers, 1994=100, seasonally adjusted
Average earnings (whole economy) (a)
US Canada Papan France Germany UK
1998 113.2 111.0 102.1 107.1 106.8 117.2
1999 117.4 113.9 100.8 109.1 108.1 121.8
2000 124.0 119.4 100.9 111.2 110.4 127.5
2001 127.1 121.9 100.3 114.5 112.2 134.1
2002 130.5 114.0 139.8
1998 Q1 111.5 110.4 103.5 106.4 106.4 114.8
1998 Q2 112.6 110.7 102.6 106.8 106.6 116.7
1998 Q3 113.8 110.8 101.0 107.2 107.0 118.2
1998 Q4 114.9 112.0 101.5 108.0 107.3 119.3
1999 Q1 116.4 112.4 101.2 108.1 107.0 120.4
1999 Q2 116.7 113.8 101.2 109.1 108.7 120.9
1999 Q3 117.6 114.3 100.2 109.3 108.1 122.4
1999 Q4 119.0 115.2 100.5 109.9 108.5 123.6
2000 Q1 122.6 117.6 101.4 110.0 109.6 124.4
2000 Q2 122.8 119.4 101.5 111.0 110.2 126.1
2000 Q3 125.0 120.2 99.7 111.5 110.8 128.4
2000 Q4 125.7 120.3 101.0 112.3 111.0 130.9
2001 Q1 126.7 121.4 100.6 112.7 111.8 132.9
2001 Q2 127.0 121.6 101.6 114.1 112.3 133.2
2001 Q3 127.2 121.7 99.6 115.3 112.4 134.2
2001 Q4 127.6 122.7 99.4 115.9 112.5 136.2
2002 Q1 129.0 123.7 99.1 116.5 113.2 137.6
2002 Q2 130.3 124.2 100.2 117.2 113.5 138.8
2002 Q3 130.7 124.8 96.8 114.7 140.8
2002 Q4 132.0 114.4 142.1
consumer prices (b)
US Canada Japan France Germany
1998 107.7 105.9 100.4 106.0 106.7
1999 109.4 107.6 99.7 106.2 107.2
2000 112.2 109.9 98.5 107.5 108.8
2001 114.5 111.9 97.0 109.0 110.9
2002 116.1 114.1 95.5 110.7 112.5
1998 Q1 107.2 105.3 100.5 106.0 106.2
1998 Q2 107.4 105.6 100.4 106.0 106.9
1998 Q3 107.8 106.0 100.1 106.0 107.3
1998 Q4 108.2 106.5 100.5 106.0 106.6
1999 Q1 108.5 106.8 100.0 105.9 106.3
1999 Q2 109.1 107.4 99.9 106.2 107.3
1999 Q3 109.7 107.9 99.6 106.2 107.4
1999 Q4 110.4 108.3 99.5 106.5 107.7
2000 Q1 111.3 108.9 99.1 107.0 108.1
2000 Q2 111.9 109.4 98.7 107.2 108.3
2000 Q3 112.5 110.2 98.3 107.6 109.1
2000 Q4 113.1 111.0 98.1 108.1 109.7
2001 Q1 114.1 111.0 97.7 108.1 110.2
2001 Q2 114.6 112.2 97.3 109.1 110.8
2001 Q3 114.5 112.4 96.8 109.4 111.1
2001 Q4 114.8 112.1 96.3 109.4 111.4
2002 Q1 115.1 112.8 96.1 110.2 112.2
2002 Q2 115.9 113.8 95.8 110.5 112.4
2002 Q3 116.4 114.6 95.4 110.8 112.6
2002 Q4 116.9 115.1 94.9 111.2 112.9
consumer prices (b)
Italy UK OECD total
1998 115.6 111.7 114.7
1999 118.1 113.5 117.1
2000 121.5 114.3 120.0
2001 124.8 115.3 122.6
2002 128.5 116.3
1998 Q1 114.9 110.5 113.9
1998 Q2 115.4 111.4 114.5
1998 Q3 115.8 112.1 114.9
1998 Q4 116.2 112.7 115.6
1999 Q1 116.7 113.1 116.1
1999 Q2 117.7 113.3 116.8
1999 Q3 118.4 113.7 117.4
1999 Q4 119.4 113.8 118.1
2000 Q1 120.0 114.1 119.0
2000 Q2 121.0 114.0 119.6
2000 Q3 122.0 114.3 120.4
2000 Q4 123.0 114.7 121.1
2001 Q1 123.4 114.7 121.9
2001 Q2 124.5 115.3 122.6
2001 Q3 125.2 115.7 122.8
2001 Q4 126.0 115.6 123.0
2002 Q1 127.1 116.1
2002 Q2 127.9 116.0
2002 Q3 129.0 116.3
2002 Q4 129.9 116.6
Sources: US Survey of Current Business, Canada National Income and
Expenditure Accounts, Deutsche Bundesbank, France INSEE, UK Economic
Trends. Japan OECD Quarterly National Accounts.
(a)Compensation of employees in employment, including various employer
insurance payments, divided by employees in employment.
(b)Deflator for consumers' expenditure.
Table 16
Volume of exports (a)
Seasonally adjusted
Index numbers, 1994=100
World (b) US Canada Japan France Germany
1998 135 142 135 116 137 134
1999 143 148 150 119 144 140
2000 161 164 163 130 163 159
2001 160 155 156 117 165 170
2002 149 157 126 i69
1998 Q1 134 143 131 118 136 133
1998 Q2 135 140 132 117 137 136
1998 Q3 135 140 135 116 138 134
1998 Q4 136 146 141 114 136 132
1999 Q1 138 143 146 114 137 134
1999 Q2 141 144 146 116 140 138
1999 Q3 145 149 151 121 147 143
1999 Q4 150 154 156 124 ISO 144
2000 Q1 155 157 161 129 155 151
2000 Q2 160 163 162 131 160 157
2000 Q3 164 170 164 131 165 161
2000 Q4 165 167 164 128 171 168
2001 Q1 165 165 160 123 170 170
2001 Q2 161 157 157 117 165 169
2001 Q3 158 150 154 114 165 172
2001 Q4 158 147 154 113 161 167
2002 Q1 160 145 156 119 165 169
2002 Q2 166 151 157 129 169 170
2002 Q3 152 160 127 171 176 147
2002 Q4 148 156 130 170 175
Index numbers, Relative export performance (c)
1994=100
Italy UK US Canada Japan
1998 125 129 105 100 86
1999 126 135 103 105 83
2000 141 151 102 101 81
2001 141 153 96 97 73
2002 172 150
1998 Q1 126 129 107 98 88
1998 Q2 127 131 104 98 87
1998 Q3 125 130 104 100 86
1998 Q4 121 128 107 104 84
1999 Q1 121 126 104 106 83
1999 Q2 124 131 102 104 82
1999 Q3 128 141 103 105 83
1999 Q4 132 141 103 104 83
2000 Q1 141 143 101 104 83
2000 Q2 137 151 102 101 82
2000 Q3 143 152 104 00 80
2000 Q4 143 157 101 100 78
2001 Q1 144 159 100 97 75
2001 Q2 143 154 98 98 73
2001 Q3 139 150 95 97 72
2001 Q4 139 148 93 97 72
2002 Q1 136 148 91 97 74
2002 Q2 142 156 91 95 78
2002 Q3 152
2002 Q4 143
Relative export performance (c)
France Germany Italy UK
1998 101 99 92 96
1999 100 98 88 94
2000 101 99 88 93
2001 103 106 88 95
2002
1998 Q1 101 99 94 96
1998 Q2 102 101 94 97
1998 Q3 103 99 93 96
1998 Q4 100 97 89 94
1999 Q1 100 97 88 92
1999 Q2 99 98 88 93
1999 Q3 102 99 88 98
1999 Q4 100 96 88 94
2000 Q1 100 98 91 92
2000 Q2 100 98 86 94
2000 Q3 100 98 87 93
2000 Q4 104 101 86 95
2001 Q1 103 103 87 96
2001 Q2 103 105 89 96
2001 Q3 104 109 88 95
2001 Q4 102 106 88 94
2002 Q1 103 106 85 92
2002 Q2 102 102 85 94
2002 Q3
2002 Q4
Sources: World UN Monthly Bulletin of Statistics, US Survey of Current
Business, Japan Bank of Japan Monthy Statistics, Germany Deutsche
Bundesbank, France INSEE, UK Economic Trends, Italy IMF International
Financial Statistics, Canada National Income and Expenditure Accounts.
(a)Goods only.
(b)Average of world exports and imports.
(c)Export volume relative to world trade.
Table 17
Current balances and interest rates
Current balance US $
US Canada Japan France Germany
1998 -204 -8 120 38 -13
1999 -293 1 115 35 -25
2000 -410 19 119 20 -28
2001 -393 19 89 21 3
2002 -503 11 114 50
1998 Q1 -41 -2 29 9 -5
1998 Q2 -49 -2 29 8 -3
1988 Q3 -57 -2 30 10 -1
1998 Q4 -56 -1 33 11 -5
1999 Q1 -60 0 28 11 -7
1999 Q2 -70 0 28 9 -3
1999 Q3 -80 2 30 10 -6
1999 Q4 -83 -1 28 6 -8
2000 Q1 -94 4 31 9 -4
2000 Q2 -98 4 32 6 -6
2000 Q3 -107 5 31 2 -8
2000 Q4 -111 6 25 3 -10
2001 Q1 -108 9 23 8 0
2001 Q2 -99 5 19 1 -7
2001 Q3 -91 3 22 7 5
2001 Q4 -95 3 25 6 5
2002 Q1 -113 3 29 7 10
2002 Q2 -128 3 30 7 6
2002 Q3 -126 3 29 7 18
2002 Q4 -137 2 27 16
Current balance US $ Short-term interest rate
percent (a)
UK OPEC LDCs US Canada
1998 -8 -53 -9 5.5 5.1
1999 -32 -9 47 5.3 4.9
2000 -29 62 69 6.5 5.8
2001 -18 25 3.7 3.7
2002 -13 1.7 2.7
1998 Q1 -4 -11 -7 5.6 4.8
1998 Q2 -2 -14 -7 5.6 5.0
1988 Q3 2 -15 -7 5.5 5.6
1998 Q4 -4 -13 13 5.2 5.0
1999 Q1 -9 -9 6 4.9 5.0
1999 Q2 -9 -5 6 5.0 4.8
1999 Q3 -6. 0 7 5.4 4.8
1999 Q4 -8 5 27 6.1 5.1
2000 Q1 -5 11 6 6.0 5.4
2000 Q2 -8 16 13 6.6 6.1
2000 Q3 -6 18 17 6.6 5.8
2000 Q4 -10 17 34 6.6 5.7
2001 Q1 -2 11 5.3 4.7
2001 Q2 -6 6 4.1 4.4
2001 Q3 -3 4 3.3 3.5
2001 Q4 -6 3 2.1 2.1
2002 Q1 -3 2 1.8 2.2
2002 Q2 -4 0 1.8 2.8
2002 Q3 -2 1.8 2.9
2002 Q4 -5 1.5 2.8
Short-term interest rate percent (a)
Japan France Germany Italy UK
1998 0.7 3.6 3.5 5.0 7.2
1999 0.2 3.0 3.0 3.0 5.4
2000 0.3 4.4 4.4 4.4 6.1
2001 0.1 4.3 4.3 4.3 4.8
2002 0.1 3.3 3.3 3.3 4.0
1998 Q1 0.9 3.6 3.5 5.9 7.5
1998 Q2 0.6 3.6 3.6 5.2 7.6
1988 Q3 0.7 3.5 3.5 4.9 7.4
1998 Q4 0.6 3.5 3.5 4.0 6.4
1999 Q1 0.5 3.1 3.1 3.1 5.3
1999 Q2 0.1 2.6 2.6 2.6 5.1
1999 Q3 0.1 2.7 2.7 2.7 5.3
1999 Q4 0.3 3.4 3.4 3.4 6.0
2000 Q1 0.1 3.5 3.5 3.5 6.2
2000 Q2 0.1 4.3 4.3 4.3 6.1
2000 Q3 0.3 4.7 4.7 4.7 6.1
2000 Q4 0.5 5.0 5.0 5.0 5.9
2001 Q1 0.4 4.8 4.8 4.8 5.5
2001 Q2 0.0 4.6 4.6 4.6 5.2
2001 Q3 0.0 4.3 4.3 4.3 4.7
2001 Q4 0.0 3.4 3.4 3.4 4.0
2002 Q1 0.1 3.4 3.4 3.4 4.1
2002 Q2 0.0 3.4 3.4 3.4 4.1
2002 Q3 0.0 3.4 3.4 3.4 3.9
2002 Q4 0.0 3.1 3.1 3.1 4.0
Sources: US, Canada, Japan, Germany France as Table 16. IMF
international Statistics.
(a)US and Japan: certificates of deposit; Germany and France: interbank
deposit rate; Italy: 3-month treasury bill rate: Canada: 90 day deposit
receipts: UK: 3-month interbank rate.
Table 18
Volume of imports (a)
Index numbers, 1994=100
World (b) US Canada Japan France
1998 135 152 139 115 131
1999 143 171 151 126 141
2000 161 194 164 140 163
2001 160 187 154 138 164
2002 195 156 140 166
1998 Q1 134 147 138 117 128
1998 Q2 135 151 139 113 132
1998 Q3 135 153 136 115 132
1998 Q4 136 158 142 114 133
1999 Q1 138 162 145 122 135
1999 Q2 141 168 148 123 139
1999 Q3 145 174 151 127 142
1999 Q4 150 179 158 132 149
2000 Q1 155 184 163 134 154
2000 Q2 160 193 165 139 159
2000 Q3 164 199 166 141 166
2000 Q4 165 198 163 144 173
2001 Q1 160 184 150 135 164
2001 Q2 166 196 157 137 167
2002 q3 158 160 160 168 152
2000 Q4 158 183 148 136 1S8
2002 Q1 160 184 150 135 164
2002 Q2 166 196 157 137 167
2002 Q3 198 160 145 168
2002 Q4 201 159 143 167
Index numbers, 1994=100 Volume relative to
domestic demand (c)
Germany Italy UK US Canada
1998 132 130 139 130 125
1999 139 138 ISO 139 130
2000 151 153 168 151 136
2001 153 152 173 146 125
2002 151 175 147 123
1998 Q1 130 131 135 128 125
1998 Q2 132 130 139 130 125
1998 Q3 132 129 141 130 122
1998 Q4 133 130 142 132 126
1999 Q1 135 135 143 134 127
1999 Q2 139 136 144 138 928
1999 Q3 141 137 154 141 129
1999 Q4 138 145 157 142 134
2000 Q1 145 151 157 145 136
2000 Q2 149 151 167 ISO 137
2000 Q3 153 152 171 154 136
2000 Q4 159 157 175 153 133
2001 Q1 146 149 173 141 120
2001 Q2 150 152 176 149 123
2002 q3 157 175 149 125 132
2000 Q4 152 ISO 172 141 119
2002 Q1 146 149 173 141 120
2002 Q2 150 152 176 149 123
2002 Q3 152 157 175 149 125
2002 Q4 154 176 150 123
Volume relative to domestic demand (c)
Japan France Germany Italy UK
1998 109 122 126 119 121
1999 119 127 129 123 126
2000 129 140 138 133 136
2001 126 139 140 130 136
2002 128 139 140 135
1998 Q1 110 121 124 121 119
1998 Q2 108 123 127 121 122
1998 Q3 109 123 126 118 122
1998 Q4 108 123 126 118 121
1999 Q1 116 123 126 121 122
1999 Q2 116 125 131 122 923
1999 Q3 120 128 131 122 129
1999 Q4 124 131 127 128 130
2000 Q1 125 134 132 132 130
2000 Q2 129 138 136 131 135
2000 Q3 130 143 139 133 138
2000 Q4 131 147 144 135 140
2001 Q1 125 138 136 126 134
2001 Q2 126 140 139 129 137
2002 q3 141 126 134 134 134
2000 Q4 125 134 140 128 134
2002 Q1 125 138 136 126 134
2002 Q2 126 140 139 129 137
2002 Q3 132 141 141 134
2002 Q4 130 139 143 133
Sources: World UN Monthly Bulletin of Statistics, US Survey of Current
Business, Japan Bank of Japan Monthly Statistics, Germany Deutsche
Bundesbanmk, France INSEE, UK Economic Trends, Italy IMF International
Financial Statistics, Canada National income and Expenditure Accounts.
(a)Goods only.
(b)Average of world exports and imports.
(c)Import volume divided by domestic demand.
Table 19
Competitiveness and commodity prices
Index numbers, 1994=100
Export price of manufactures, 1994=100
World (a) Relative to world price (b)
US Canada Japan
1998 97.0 107.6 93.0 87.5
1999 94.5 110.2 93.6 95.1
2000 88.9 118.8 100.4 105.5
2001 87.1 123.6 99.6 103.6
2002
1998 Q1 95.2 110.3 99.0 91.8
1998 Q2 95.7 108.7 96.2 85.9
1998 Q3 96.5 107.8 91.3 84.5
1998 Q4 100.6 103.4 85.5 87.8
1999 Q1 97.5 106.7 89.4 92.3
1999 Q2 93.5 111.2 95.2 91.9
1999 Q3 93.1 111.7 94.7 96.6
1999 Q4 94.1 111.1 94.9 99.4
2000 Q1 92.0 114.2 98.7 101.5
2000 Q2 89.6 117.4 99.7 104.1
2000 Q3 88.1 119.9 101.5 107.0
2000 Q4 85.7 123.9 101.7 109.3
2001 Q1 88.7 120.7 98.6 103.1
2001 Q2 85.4 126.1 101.8 105.1
2001 Q3 86.8 124.4 100.3 104.8
2001 Q4 87.3 123.3 97.8 101.2
2002 Q1
2002 Q2
2002 Q3
2002 Q4
Export price of manufactures, 1994=100 Commodity prices
Relative to world price (b) Oil (c) Food (d)
OPEC
France Germany Italy UK average Developed
1998 98.9 95.9 106.9 111.3 13.1 93.3
1999 95.4 93.6 106.1 112.4 18.0 82.4
2000 89.2 86.7 105.9 116.2 28.2 83.9
2001 88.7 85.7 105.3 115.6 24.3 85.8
2002 25.0 86.5
1998 Q1 97.5 94.1 105.2 113.0 14.2 97.1
1998 Q2 98.6 95.9 106.2 112.5 13.3 97.7
1998 Q3 99.2 96.4 107.2 111.6 13.0 89.9
1998 Q4 100.1 97.4 109.1 108.0 11.9 88.3
1999 Q1 97.7 95.7 107.3 110.0 11.6 85.0
1999 Q2 95.3 93.3 104.9 112.0 16.0 82.1
1999 Q3 94.9 92.9 105.8 112.6 20.5 81.3
1999 Q4 93.6 92.6 106.5 115.0 23.8 81.4
2000 Q1 91.7 89.7 106.9 117.5 26.7 84.0
2000 Q2 89.4 86.9 106.5 116.3 26.8 85.6
2000 Q3 88.3 85.6 106.0 114.9 29.8 82.4
2000 Q4 87.3 84.5 104.2 116.1 29.7 83.3
2001 Q1 89.6 86.7 106.6 114.1 26.0 85.4
2001 Q2 87.9 85.0 104.8 116.3 26.7 86.3
2001 Q3 88.5 85.4 105.1 116.2 25.0 89.3
2001 Q4 89.0 85.5 104.6 115.6 19.3 82.2
2002 Q1 20.9 82.1
2002 Q2 25.2 83.1
2002 Q3 26.9 89.5
2002 Q4 26.7 91.2
Commodity prices
Food (d) Agri- Minerals,
cultural ores and
Developing non-food (d) metals (d)
1998 97.5 79.0 89.3
1999 76.8 80.0 88.3
2000 65.2 83.7 99.1
2001 54.7 79.6 89.4
2002 63.7 81.0 86.9
1998 Q1 113.8 81.1 94.0
1998 Q2 98.1 82.5 91.3
1998 Q3 90.7 77.7 87.8
1998 Q4 87.4 74.7 84.2
1999 Q1 83.2 77.5 79.8
1999 Q2 76.8 78.0 84.7
1999 Q3 69.0 80.3 92.4
1999 Q4 78.1 84.1 96.3
2000 Q1 71.3 84.3 102.6
2000 Q2 67.3 85.7 97.2
2000 Q3 63.3 82.9 100.0
2000 Q4 59.0 81.8 96.5
2001 Q1 59.0 82.8 96.2
2001 Q2 55.7 86.2 93.0
2001 Q3 52.0 77.5 85.5
2001 Q4 52.1 71.8 82.9
2002 Q1 58.9 74.0 87.2
2002 Q2 60.3 78.9 88.1
2002 Q3 65.4 84.8 85.3
2002 Q4 70.3 86.5 87.2
Sources: UN Monthly Bulletin of Statistics, IMF International Financial
Statistics.
(a)In US $.
(b)Weighted by export competitiveness.
(c)US $ per barrel.
(d)IMF indices.
Table 20
Exchange rates (a)
SDR ECU (b) Gold (c) UK Canada
[pounds sterling] C$
US$ per unit Units per
US$
1998 1.361 1.115 294 1.66 1.48
1999 1.363 1.066 279 1.62 1.49
2000 1.315 0.923 279 1.52 1.49
2001 1.270 0.895 271 1.44 1.55
2002 1.303 0.944 310 1.50 1.57
1998 Q1 1.344 1.077 294 1.65 1.43
1998 Q2 1.334 1.093 300 1.65 1.45
1998 Q3 1.365 1.112 289 1.65 1.51
1998 Q4 1.402 1.177 294 1.68 1.54
1999 Q1 1.363 1.122 287 1.63 1.51
1999 Q2 1.340 1.057 274 1.61 1.47
1999 Q3 1.376 1.048 259 1.60 1.49
1999 Q4 1.373 1.038 296 1.63 1.47
2000 Q1 1.343 0.987 290 1.61 1.45
2000 Q2 1.331 0.933 281 1.53 1.48
2000 Q3 1.294 0.904 277 1.48 1.48
2000 Q4 1.294 0.869 269 1.45 1.53
2001 Q1 l.280 0.923 264 1.46 1.53
2001 Q2 1.250 0.873 268 1.42 1.54
2001 Q3 1.286 0.890 275 1.44 1.55
2001 Q4 1.263 0.895 278 1.44 1.58
2002 Q1 1.250 0.876 290 1.43 1.59
2002 Q2 1.301 0.918 313 1.46 1.55
2002 Q3 1.322 0.984 314 1.55 1.56
2002 Q4 1.340 0.997 323 1.57 1.57
Effective rates (d)
Japan France Germany Italy UK
Yen F.Franc DM Lira
Units per US$ IMF index
1998 131 5.90 1.76 1736 116.5
1999 114 6.16 1.84 1817 116.3
2000 108 7.12 2.12 2102 120.5
2001 121 7.33 2.19 2164 118.6
2002 125 6.97 2.08 2057 118.9
1998 Q1 128 6.09 1.82 1792 118.1
1998 Q2 136 6.01 1.79 1768 118.1
1998 Q3 140 5.91 1.76 1739 117.0
1998 Q4 119 5.58 1.66 1646 112.7
1999 Q1 116 5.84 l.74 1725 113.3
1999 Q2 121 6.21 1.85 1832 116.7
1999 Q3 113 6.26 1.87 1847 116.4
1999 Q4 104 6.32 1.88 1865 118.8
2000 Q1 107 6.65 1.98 1963 121.6
2000 Q2 107 7.03 2.10 2074 120.8
2000 Q3 108 7.25 2.16 2141 119.2
2000 Q4 110 7.55 2.25 2228 120.6
2001 Q1 118 7.11 2.12 2098 118.4
2001 Q2 123 7.52 2.24 2219 119.3
2001 Q3 122 7.37 2.20 2176 119.1
2001 Q4 124 7.33 2.18 2163 119.0
2002 Q1 132 2.23 2.23 2210 119.9
2002 Q2 127 7.14 2.13 2108 118.2
2002 Q3 119 6.67 1.99 1969 118.4
2002 Q4 122 6.58 1.96 1943 118.9
Effective rates (d)
US Germany Japan
IMF index
1998 112.1 97.9 80.4
1999 109.4 96.0 93.9
2000 113.8 92.0 104.5
2001 121.3 92.6 94.4
2002 120.0 93.6 89.5
1998 Q1 111.6 96.6 82.6
1998 Q2 113.5 97.5 77.7
1998 Q3 115.3 98.5 75.2
1998 Q4 108.2 99.1 86.1
1999 Q1 108.6 97.6 89.9
1999 Q2 111.6 96.2 88.4
1999 Q3 110.0 95.6 94.5
1999 Q4 107.3 94.5 102.8
2000 Q1 109.7 93.4 102.2
2000 Q2 112.7 92.1 105.0
2000 Q3 114.7 91.7 105.6
2000 Q4 118.2 90.9 105.3
2001 Q1 93.2 95.9 95.9
2001 Q2 122.7 92.2 94.4
2001 Q3 121.6 92.5 94.4
2001 Q4 122.5 92.7 92.8
2002 Q1 126.3 92.5 87.2
2002 Q2 121.6 93.2 89.1
2002 Q3 116.0 94.1 92.4
2002 Q4 116.2 94.5 89.2
Sources: Financial Times, IMF International Financial Statistics.
(a)Average of daily spot races.
(b)US$ per euro from 1999Q1.
(c)Average of free market closing rate in London.
(d)IMF nominal effective exchange rate index, rescaled to 1994=100.
Weighted by trade in manufactured goods in 1989-91.
