Commentary

Quarterly Bulletin 1962 Q1
Published on 01 March 1962

During the fourth quarter of 1961 there was little further change in the total of output. Allowing for seasonal factors consumers' expenditure remained much the same. The volume of retail sales rose slightly in October, fell in November but rose again in December, the contrast between November and December seemingly being due to Christmas buying starting later than in earlier years. The fall in sales of new cars on the home market stopped about November and the long decline in second-hand car prices ended. On the other hand, there was an appreciable fall in consumers' hire purchase debt outstanding, as less new credit was taken.

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