mpc: 19 The differing profiles of output and expenditure might have been a genuine reflection of the
timing of temporarily high consumption in Q4 perhaps causing a reduction in stockbuilding, followed
by an over-optimistic and supply response. Perhaps the 2005 Q4 data should be treated as erratic.
Averaging the data over the past two quarters would suggest that output and consumption had been
growing at around trend over the period.
Make a comment: