United Kingdom - Economic position and prospects

R ;i'r, . >; R EQT I IC T E D R e p o r t N o. EA- 1 17 This report was prepared for use within the Bank. It may not be published nor may it be quoted as representing the Bank's views. The Bank accepts no responsibility for the accuracy or completeness of the contents of the report. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT ECONOMIC POSITION AND PROSPECTS OF THE UNITED KINGDOM February ZO, 1961 Department of Operations Europe, Africa and Australasia  CURRENCY EQUIVALENTS Ii = U.S. $2.80 U.S. $1 = L.357  TABLE OF CONiTENTS Page No. BASIC DATA CHARTS SUMMARY AND CONCLUSIONS ........................... i I. INTRODUCTION .....*.* ***...........*. * * . 1 II, DEVELOPMENTS SINCE 1955 *........................ 1 III. PRODUCTION, EYPLOYiENT AND INVESTMENT .,........... 5 IV. WAGES AND INDUSTRIAL RELATIONS ........................... O11 V. PUBLIC FINANCE AND MONETARY POLICY .............. 15 VI. EXTERNAL TRADE AND PAYMENTS ...................... 21 Export Trade .......... ... .. . 24 Sterling Area . .* ...** *.....*............ . 27 Economic Relations with Western Europe .... 28 STAT IST ICAL APPENDIK  TABLE OF CONTENTS Page No. BASIC DATA CHARTS SU IiARY AND CONCLUSIONS .................. . . .....** I. INTRODUCTION ....... 1. II. DEVELOPMENTS SINCE 1955 *.................... 1 III. PRODUCTION, ENlPLOYvENT AND INVESTMENT ........... 5 IV. WAGES AND INDUSTRIAL RELATIONS ...O............... 11 V. PUBLIC FINANCE AND MONETARY POLICY .*.e..e***..9 15 VI. EXTERNAL TRADE AND PAYMENTS ,....,................. 21 Export Trade .. ........ ................. . ... , 24 Sterling Area . ..*.*.*...*., .. * . .. 27 Economic Relations with W4estern Europe ...... 28 STAT ISTICAL APPENDIX  BASIC DATA United Kingdom Area: 94,000 square miles Ponulation: 52 million Gross National Product (1959): i20.9 billion (<S58.5 billion) Per Capita