0 to reduce the amount of stock (= goods kept available to sell), or the amount of materials for making new products:
Indirect tax increases have been substantially reduced, the mortgage rate is falling and many firms will begin to destock in the coming months.
Secondly, there will be destocking by manufacturers producing those items.
Moreover, the number of firms expecting to destock has fallen, as has the number of firms working below capacity.
First, there will be destocking by retailers of items which go up in price.
A farmer with 683 ewes, against 696 the previous year—so he has destocked somewhat—with no cattle, against six the previous year, will receive £19,835.
That arose apparently from changes in policy towards destocking items in surplus.
Naturally, many people dealing in commodities where stocking and destocking can be fairly rapidly achieved inflate their stocks at the year-end.
In 1969, the favourable balance of payments in the last quarter could be negative because—this is what we strongly suspect—there has been destocking.
