G.N.P. UP 3½pc

Press, Volume CII, Issue 30094, 30 March 1963, Page 17

G.N.P. UP 3½pc

U.K. Figures For 1962 The United Kingdom gross national product rose 3i per cent, to £ 24.824 m in 1962 This is shown in a White Paper released today—six days before the Budget is due. Gross trading profits of companies were £ 3.474m—1itt1e changed from the previous year. Investment at home and abroad was £2Bm lower than in 1961. Personal incomes rose £ 1.025 m, or 4J per cent Consumers spent £ 18.370 m on goods and services ir 1962—£856m or 4.9 per cent more than in the previous year. Exports Steady Exports from Britain in 1962 were only slightly higher than those in 1961. A slowing-down in economical expansion in North America and in Europe had a “marked effect” on British exports in the second half of last year, the Treasury said. The deficit on visiblt trade was £7lm, compared with £l4Bm in 1961 —the best result since 1958 Net invisible receipts rose more than £som, to £l3Bm —a reversal of the serious decline in past years and the largest surplus since 1969. The current account moved from deficit into surplus, improving by nearly £l4om