Journal of Co-operative Studies, 66, 6-9

Journal of Co-operative Studies, No. 66

Abstract

This article suggests that the  provisional figures for 1988 must be judged against the background of a surge in domestic demand, fuelled by tax cuts, abundant credit, and rising wages for the increasing number of those in employment. As against this, there were the efforts of the Chancellor to slow down the boom by the use of interest rate policy. This produced relatively little impact on consumer spending for the greater part of the year, though by December there were signs of slackening growth. For some businesses the Christmas trade produced new records though these were apparently less than anticipated. However, the likelihood of a "soft landing" for the economy seems highly improbable at the time of writing and few trading records appear likely to be broken in 1989.