By . Sara Malm . PUBLISHED: . 05:47 EST, 12 August 2012 . | . UPDATED: . 10:11 EST, 12 August 2012 . The lengths of skirts have historically been an indicator of economic downturn and if what is on offer on the high street is anything to go by, the economy is in a dire state. Hemlines have hit their lowest since the 1929 Great Depression, with celebrities such as Victoria Beckham, Katie Holmes and Christina Aguilera sporting skirts as long as 33in, below the knee. However according to the Hemline Index, the ‘official’ indicator for skirt-lengths in relation to the economy, says we may be looking at brighter times. Victoria Beckham follows the 'recession' trend in a long skirt of her own design but it was very different in 1997 . The return of the long skirt has . historically been a sure sign of a reclining economy with below-the-knee . skirts featuring heavily in designer shops and high street chains . during recessions. Last time the fashion industries reported maxi skirts on trend was in the early nineties when inflation hit 15 per cent. This is compared to financial highs . such as the 1960s, the time of the creation of the mini skirt and the . later nineties where the economy boomed and 18in skirts were the . norm. 1929 – 1933Hemlines were long during the years of the Great Depression following the Wall Street Crash in 1929. 1960’s . The swinging sixties saw the . invention of the mini skirt shortly after Harold McMillan declared in . 1957 that we ‘never had it so good’. The only way for the economy - and . hemlines - was up.Early 1980sJobcentre queues and skirts grew longer and longer as unemployment rose . after the Winter of Discontent hitting 3 million in 1982 – the highest . in 50 years. 1984-1988The days of the yuppies, the first mobile-phones and hemlines rising with the market. 1989-1992Stockmarkets crashing in the late 1980s let to a recession where inflation hit 15 per cent and skirts were below the knees again.1993-2002During . a period of economic boom tiny skirts came back into fashion as Cool . Britannia took over and the Spice Girls took to the stage in . thigh-skimming outfits. The double-dip recession of the tens . has seen hemlines move further down and maxi-length pencil skirts are . in shop windows everywhere, from Selfridges and Harrods to high street . giants such as River Island and H&M. Although shop windows predict a bleak . autumn when put to the test the Hemline Index show that things are . looking up for both hemlines and the economy. The longer hemline featured heavily on the Autumn/Winter runways last year which is now reflected on the high street. However observations made at the . 2012/13 shows indicate that by the time the catwalk creations become . common fashion we may be out of the recession. The Hemline Index was established by . economist George Taylor at Wharton School of Business in 1926 who . noticed a connection between good times and short skirts. When the economy was good women would . wear higher hemlines to show off the more expensive hosiery compared to . rough times where the skirts would become longer so women could hide . their cheap stockings. Observations were made during the New . York Fashion Week earlier this year where online magazine Business . Insider compared the Hemline Index from Autumn/Winter 2011 collections . with A/W 2012. The Hemline Index rose from 35.04 in 2011 to 44.38 this year. The higher the index the shorter the skirts and, according to George Taylor’s calculations, the better the economy. If this is anything to go by it gives a . more positive prediction than Prime Minister David Cameron who last . month warned that  the dire state of the economy may last until the end . of the decade. ‘I don’t deny for a minute that it is a lot tougher than the forecasters were expecting,’ he told The Daily Telegraph. The British economy has yet to escape . the double-dip recession of last year and economic experts joined the . Prime Minister’s gloomy outlook. The Bank of England’s latest forecast released earlier this week slashed Britain’s predicted growth for 2012 to zero. The long and short of it: American songstress Christina Aguilera on stage last year, left, in a significantly longer skirt than during better economic times at the 2000 Grammy Awards . Supermodel, supershort: Tyra Banks was snapped in a knee-length dress in Singapore today and but preferred her dresses much shorter in 1995, left, when the economy fared better . Governor Sir Mervyn King announced the new figures which as late as May this year foresaw a 0.8 per cent growth. Sir Mervyn told MailOnline’s financial . section ThisisMoney that the combination of the developments in the eurozone and rise in energy and commodity prices has kept us in the red . figures. ‘We will get back [to growth] but it is quite impossible to know over what time period.’ Economists described Tuesday’s . inflation report as one of the most depressing ever, with predictions of . economic growth peaking at just 2.25 per cent in 2014 and 2015. This is the lowest ‘peak forecast’ in . the quarterly inflation reports since the Bank of England was granted . independence in 1997.
The Hemline Index has been used since 1926 to indicate the state of the economy .
Although maxi lengths are on-trend, runways of Autumn/Winter 2012/13 showed shorter skirts .
This disagrees with the Bank of England's latest growth prediction for this year, which was cut to zero .
By . Sara Malm . PUBLISHED: . 05:47 EST, 12 August 2012 . | . UPDATED: . 10:11 EST, 12 August 2012 . The lengths of skirts have historically been an indicator of economic downturn and if what is on offer on the high street is anything to go by, the economy is in a dire state. Hemlines have hit their lowest since the 1929 Great Depression, with celebrities such as Victoria Beckham, Katie Holmes and Christina Aguilera sporting skirts as long as 33in, below the knee. However according to the Hemline Index, the ‘official’ indicator for skirt-lengths in relation to the economy, says we may be looking at brighter times. Victoria Beckham follows the 'recession' trend in a long skirt of her own design but it was very different in 1997 . The return of the long skirt has . historically been a sure sign of a reclining economy with below-the-knee . skirts featuring heavily in designer shops and high street chains . during recessions. Last time the fashion industries reported maxi skirts on trend was in the early nineties when inflation hit 15 per cent. This is compared to financial highs . such as the 1960s, the time of the creation of the mini skirt and the . later nineties where the economy boomed and 18in skirts were the . norm. 1929 – 1933Hemlines were long during the years of the Great Depression following the Wall Street Crash in 1929. 1960’s . The swinging sixties saw the . invention of the mini skirt shortly after Harold McMillan declared in . 1957 that we ‘never had it so good’. The only way for the economy - and . hemlines - was up.Early 1980sJobcentre queues and skirts grew longer and longer as unemployment rose . after the Winter of Discontent hitting 3 million in 1982 – the highest . in 50 years. 1984-1988The days of the yuppies, the first mobile-phones and hemlines rising with the market. 1989-1992Stockmarkets crashing in the late 1980s let to a recession where inflation hit 15 per cent and skirts were below the knees again.1993-2002During . a period of economic boom tiny skirts came back into fashion as Cool . Britannia took over and the Spice Girls took to the stage in . thigh-skimming outfits. The double-dip recession of the tens . has seen hemlines move further down and maxi-length pencil skirts are . in shop windows everywhere, from Selfridges and Harrods to high street . giants such as River Island and H&M. Although shop windows predict a bleak . autumn when put to the test the Hemline Index show that things are . looking up for both hemlines and the economy. The longer hemline featured heavily on the Autumn/Winter runways last year which is now reflected on the high street. However observations made at the . 2012/13 shows indicate that by the time the catwalk creations become . common fashion we may be out of the recession. The Hemline Index was established by . economist George Taylor at Wharton School of Business in 1926 who . noticed a connection between good times and short skirts. When the economy was good women would . wear higher hemlines to show off the more expensive hosiery compared to . rough times where the skirts would become longer so women could hide . their cheap stockings. Observations were made during the New . York Fashion Week earlier this year where online magazine Business . Insider compared the Hemline Index from Autumn/Winter 2011 collections . with A/W 2012. The Hemline Index rose from 35.04 in 2011 to 44.38 this year. The higher the index the shorter the skirts and, according to George Taylor’s calculations, the better the economy. If this is anything to go by it gives a . more positive prediction than Prime Minister David Cameron who last . month warned that  the dire state of the economy may last until the end . of the decade. ‘I don’t deny for a minute that it is a lot tougher than the forecasters were expecting,’ he told The Daily Telegraph. The British economy has yet to escape . the double-dip recession of last year and economic experts joined the . Prime Minister’s gloomy outlook. The Bank of England’s latest forecast released earlier this week slashed Britain’s predicted growth for 2012 to zero. The long and short of it: American songstress Christina Aguilera on stage last year, left, in a significantly longer skirt than during better economic times at the 2000 Grammy Awards . Supermodel, supershort: Tyra Banks was snapped in a knee-length dress in Singapore today and but preferred her dresses much shorter in 1995, left, when the economy fared better . Governor Sir Mervyn King announced the new figures which as late as May this year foresaw a 0.8 per cent growth. Sir Mervyn told MailOnline’s financial . section ThisisMoney that the combination of the developments in the eurozone and rise in energy and commodity prices has kept us in the red . figures. ‘We will get back [to growth] but it is quite impossible to know over what time period.’ Economists described Tuesday’s . inflation report as one of the most depressing ever, with predictions of . economic growth peaking at just 2.25 per cent in 2014 and 2015. This is the lowest ‘peak forecast’ in . the quarterly inflation reports since the Bank of England was granted . independence in 1997.
The lengths of skirts have historically been an rising with the market. 1989-1992Stockmarkets the Autumn/Winter runways last year which is now The Hemline Index was established by . economist state of the economy may last until the end . of outlook. The Bank of England’s latest forecast predicted growth for 2012 to zero. The long and