Rapid Report. Energy and industry. Extract from "Industrial Trends - December 1992" Recession hits the capital goods industries particularly hard.

Abstract

The latest (September 1992) figures for industrial production in the European Community (EU!~ 12) reveal a worsening of the recession. In the capital goods industries in particular production has fallen. The index of industrial production (NACE 1-4), adjusted for the number of working days, stood at 116.0 (1985 = 100) for the Community as a whole in S eptember, 1.4 % down on the previous September's value . For the capital goods industries, the index fell 2.3 %. giving a seasonally-adjusted production index for the mont h of 112.9. Compared with the second quarte r of 199 2, the seasonally-adjusted industrial productio n in dex for the capital goods industries dropped 2 . I % as agains t ;_1 foll o f only 0.6 % in the overall EC inde x. As u sually h appens in a recession. the rise in prices is now leve lling off: c1fl c r a 2 . 1 % rise in the EC produce r price index (annual ra te) in the second quarter, the inflation rate is now o nly I .4 %1. Seasonally-adjusted figures for industrial ou tpu l in the EC Member States are as follows (rate of change for the past three months compared with the previous tJ1ree months, with the capital goods industries in brackets): Denmark +3. 7 % (+0.6 %), Greece +3 % (estimated) (+6, l %), Spain +0.9 % (+3.2 %). United Kingdon +0.6 % (+0.8 %). France -0.1 % (-0.5 %). Belgium -1. l % (estimated) (-3.0 %). Germany (West) -0.5 % (-1.8 %). Ireland -0. l % (estimated) (-2.6 %). Netherlands -2 . I % Manuscript completed on = 11.12.1992 For further information please contact: B. FELDMANN (-1.4 %). Italy -2.8 % (-1.2 %). Production is therefore falling in very many Member States. In the USA, industrial production rose by 0.4 % (rate of change for the past three months compared with the previous three months); in Japan it stagnated (-0.2 % . value of previous month).