The economy
Sir, —Apparently “A. B. Cedarian” and the World Bank Atlas - believe the growth rate of our gross national product averaged less than 2 per cent between 1961 and 1968. But, according to the A. and N.Z. Banking Group’s “Quarterly Survey” the average rise in our G.N.P. from 1960 to 1969 was 3.7 per cent This is confirmed in the “Reserve Bank Bulletin” which also states that the real G.N.P. at constant prices is thought to have increased by about 5 per cent in the year ending March, 1970, after an increase of only 1.3 per cent the previous year. The “Quarterly Survey” also claims that a further rise of 5 per cent is forecast for the current year. The Reserve Bank considers that one cause of the slow growth of G.N.P. in the years 1967-68 and 1968-69 was the urgent need to correct inflationary trends —by the same methods “A. B. Cedarian” advocates we should boost the G.N.P. How peculiar.—Yours, etc., G. M. EDMONDS. November 21, 1970.
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Press, Volume CX, Issue 32462, 24 November 1970, Page 14
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169The economy Press, Volume CX, Issue 32462, 24 November 1970, Page 14
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