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- Title
THE BOARD OF TRADE CAPITAL-INVESTMENT-FORECASTS: THE PREDICTION OF GROSS-FIXED-CAPITAL-FORMATION IN U.K. MANUFACTURING INDUSTRY AND BUSINESS EXPECTATIONS.
- Authors
Cannon, C. M.
- Abstract
The Board of Trade (BOT) publishes a figure of percent-change in the capital-investment of industry in Great Britain which is expected by businesses. These business forecasts are expectations of future capital-expenditure decisions. A forecast can take into account any possibility which may affect actual outcome. In this article the author explains just what is published by the BOT on investment-expectations. Since 1955, the BOT has used a large sample of companies in manufacturing as a source of evidence on expected and actual fixed capital-expenditure. The author make use of information on manufacturing industry only, because the coverage of distributive and service trades was thin before a general enquiry was made in 1960. According to him it is necessary to enter into a full discussion of the compilation of his base of absolute expectations for 1956 and of the results for the earlier years of his time-series because a regular publication procedure was not followed by the BOT until 1958. Throughout his series the author use the revised forecasts because the initial forecasts seem likely to be less dependable.
- Subjects
UNITED Kingdom; CAPITAL investments; INVESTMENTS; EARNINGS forecasting; ECONOMIC forecasting; GREAT Britain. Board of Trade; MANUFACTURING industries; DISTRIBUTION costs; EARNINGS trends
- Publication
Journal of Industrial Economics, 1970, Vol 18, Issue 3, p290
- ISSN
0022-1821
- Publication type
Article
- DOI
10.2307/2097615