Gross Domestic Product and the Austin 10

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peter_winney
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Gross Domestic Product and the Austin 10

Post by peter_winney » Tue Dec 21, 2021 11:21 am

In 2021 UK GDP grew by 6.8% but after a near 10% fall in 2020 it is still less than pre-Covid 2019. According to Telegraph Business News the last time the economy grew by more than this was 1941 - plus 8.7% - powered by war-production. The previous biggest peace time growth in GDP was 1934 at 6%

The 1930s are considered to be bleak years for the world economy But in 1931 the UK went off the gold standard, allowing £Sterling to fall in value and kick-started the economy, and leading to growth of 3.2% in 1933 and 6% in 1934. This was just in time for the Austin 10, introduced in April 1932, to take advantage with sales increasing in most years to reach a peak in 1937, becoming Austin's best-selling model, before the transfer of work to arms & munitions when the Austin Works at Longbridge became a "Shadow Factory" for aircraft etc.

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