The two institutions have undertaken the studies in collaboration with Partner States Central Banks, and we are really grateful for this technical support. BIS central bankers’ speeches  1  Since the inception reports, the final report of the two studies we are reviewing today is a culmination of a lot of work at the technical level.
Over the last few years consumption expenditure has been growing at a higher rate than the growth rate of GDP itself. Essentially, it means that the growth rate of consumption expenditure has been outpacing the growth rate of total value added by our active labour force in the economy. Although we are not through an economic boom period this phenomenon means what it means.