Second Addendum PDF Download

This provides information on developments in the domestic and international economies over the period 1971-72 to the present, focusing on recent trends. Topics covered in the paper are: domestic production and labour force, labour productivity, incomes, costs and factor shares, inflation, balance of payments, international competitiveness and monetary and fiscal conditions. It also reports on recent developments in the international economy including trends in economic activity, world trade and international inflation, unit labour costs, unemployment and growth of GDP per capital recent IMF and OECD forecasts of international conditions for 1983 are also included. Two technical notes have been included. The first discusses the various average earnings and award wage statistics that are available and the reasons for the different movements registered by them. The second discusses cyclical variations in factor shares and stock valuation adjustment.