Trends and Cycles in British Industrial Production, 1700–1913

SUMMARY A new index of industrial production for Britain for the years 1700 to 1913 is constructed. Using a structural time series model estimated via the Kaiman filter, the index is decomposed into its trend and cycle components. These are then compared with those obtained from using traditionally available indices and the implications for the historiography of British economic growth during the 18th and 19th century are discussed.