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Pricing Behaviour in the Engineering Industry

Published online by Cambridge University Press:  26 March 2020

W. A. H. Godley  and
C. Gillion
W. A. H. Godley
Affiliation:
National Institute
C. Gillion
Affiliation:
National Institute
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Extract

A memorandum recently submitted by the Purchasing Officers Association to the National Incomes Commission reports that there have recently been many increases (averaging 4-5 per cent) in the prices of engineering products, and suggests that many of these were not justified by changes in costs. Similar reports and conclusions have appeared in the press.

Type
Articles
Information
National Institute Economic Review , Volume 28 , May 1964 , pp. 50 - 52
Copyright
Copyright © 1964 National Institute of Economic and Social Research

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Footnotes

This note was prepared by W. A. H. Godley, with the assistance of C. Gillion, both of the National Institute. An earlier version was submitted as evidence to the National Incomes Commission in March 1964.

The information on price quotations by engineering firms is derived from a pilot study of pricing behaviour in manufacturing industry which will be published by the National Institute later in the year. The Board of Trade is thanked for supplying a great deal of information and much helpful guidance.

References

(1) Purchasing Officers Association, Memorandum for submission to National Incomes Commission on the effect of the engineering pay award on prices, February 1964.

(2) R. R. Neild, Pricing and Employment in the Trade Cycle, Cambridge University Press, 1963, page 42.

(3) This information was made available in such a way as to prevent any infringement of the undertaking regarding confidentiality given by the Board of Trade to individual firms.