| dc.description.abstract | The latest figures on industrial production in the European Community (EUR 12) in July 1992 have again dashed hopes of an economic recovery. Instead, there was a noticeable decline in production of all types of goods. The industrial 2% EUR12: Production Index Change of 3 last months to previous year trend of production, saw a rate of change of -1 % in June/July. The seasonally adjusted figures for industrial production in the individual EC Member States were as follows (rate of change for the past three months compared with the previous three months): Italy: -0.3 %, United Kingdom: -0.6 %, Denmark: -0.9 % (June), Ireland: -1 % (June), France: -1.3 % (June), Netherlands: -1.3 % 11111 !£;~l£~r;:;;;, -~1:~ t~~; 0% 4-,,~ij.....u:~~~~~~~-~~-1ffl'i!P-~~r.:.:.:.:.1o.:......c.:..:.:.:..i.::_x..:,:.:.a.,:__ Member States. -2% -4% production index for EUR 12, adjusted for the number of working days, was 108.5 (1985 = 100) in July 1992, representing a rate of change of -0.7 % compared with July 1991. After seasonal adjustment, the index for July was 114.0. The seasonally adjusted figure for EUR 12 production in the last three months for which figures are available (May, June, July) showed a fall of -1.0 % over the cumulative figure for February, March and April. Having risen by 2 % in April/May com-pared with the same period in 1991, (estimated) new orders in EUR 12, which indicate the future \ Manuscript completed on= 07.10.1992 · In the USA, industrial production rose by 1.1 % (rate of change for the past three months compared with the pre-vious three months), while in Japan the downturn in industrial production con-tinued at a rate of -2.0 % (estimate). A slight recovery can therefore be de-tected in the USA, while the production of all types of goods in EUR 12 is stag-nant and the recession in Japan con-tinues. The figures for EUR 12 by major product group were as follows: Raw materials: -1.5 %; Capital goods: -0.7 %; Consumer goods: 0.4 % |
