1940s: During World War II, Great Britain envisions that it will be able to provide for the development of its colonies abroad. On February 20,1947, Great Britain announces its intention to relinquish governing power over India. By 1948, the British colonies of India, Pakistan, Ceylon, and Burma have gained independence These events indicate the downsizing of the British Empire.

Today: The majority of England's colonies have achieved independence. The British Empire as a world power is no more.

1940s: Retail sales decline in 1943 because citizens are urged to purchase items such as clothing and furniture on a need only basis. Expenditures on luxury items are low as a result. Other items are restricted such as coal.

1978: Britain enjoys a booming economy in 1978 with many of its leading indicators up from previous years.

Today: According to the Economist, in 1997 Britain experienced economic growth for "a fifth straight...