ABSTRACT
An independent check on the figures of national income so far calculated is provided by an analysis of figures of outlay, based on the work of Mr. A. E. Feavearyear. The outlay figures exceed the income figures by about £100 million or 2½ per cent. Outlay on consumption in 1932 (excluding Government services paid for by direct taxation) was £3493 millions, of which £1054 millions was on food, £379 millions on clothing, £363 millions on rent and rates and £232 millions on drink. Since 1932 the principal increases in consumption have been in hardware and furniture, and in entertainment and betting and xvthe catering trades. It is possible to calculate and keep up to date a quarterly index of the money value of aggregate consumption.
