Thanks to The Register, here is a nice graph of the decline of manufacturing in the UK since 1945. You'll notice one small problem with the "decline" bit.
And is also fairly explicit that a computer programmer working on the manufacture of aircraft engines is counted towards the value of manufacturing as an industry.
Sorry, I meant to say that I'd expect the 1940 value to be 8 rather than 40, if it's not taking inflation into account. I got it the wrong way round in the translation from brain to fingers.
Without knowing whether the figures do take inflation into account or not it's very hard to tell if they're meaningful or not.
Aaaah, so any items that are sold are weighted at the price that those items would have sold for in 2000? Must be tricky for electronics, but it does make sense.
That graph would mean two different things depending on what it shows. If it shows "cost of goods produced at the time" then it's showing a massive decline in manufacturing. If it shows "cost of goods produce, normalised to a standard date" then it shows a decent improvement in manufacturing over time. All I wanted to know is which one I was looking at.
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drplokta
(no subject)
Date: 2010-02-22 02:40 pm (UTC)Inflation from 1940 is about 4700%, so I'd expect the values to go from 40 to 2000, not 100.
(no subject)
Date: 2010-02-22 02:44 pm (UTC)And is also fairly explicit that a computer programmer working on the manufacture of aircraft engines is counted towards the value of manufacturing as an industry.
(no subject)
Date: 2010-02-22 02:48 pm (UTC)Without knowing whether the figures do take inflation into account or not it's very hard to tell if they're meaningful or not.
Inflation
Date: 2010-02-22 02:59 pm (UTC)Re: Inflation
Date: 2010-02-22 03:04 pm (UTC)Ok, that makes me a lot happier. Thanks!
Re: Inflation
Date: 2010-02-22 03:17 pm (UTC)(no subject)
Date: 2010-02-22 03:15 pm (UTC)(the Reg forums are full of eejits making this observation as if no-one else had thought of it)
(no subject)
Date: 2010-02-22 03:19 pm (UTC)That graph would mean two different things depending on what it shows. If it shows "cost of goods produced at the time" then it's showing a massive decline in manufacturing. If it shows "cost of goods produce, normalised to a standard date" then it shows a decent improvement in manufacturing over time. All I wanted to know is which one I was looking at.
(no subject)
Date: 2010-02-22 03:35 pm (UTC)(no subject)
Date: 2010-02-22 03:37 pm (UTC)