Rapid Report. Energy and industry. Industrial Trends - January 1992 EC industrial production stagnant.

Abstract

October 1991 saw no upturn in industrial production in the European Community (EUR 12)', and there was little difference in the trends recorded by the individual bran-INDUSTRIAL PRODUCTION (NACE 1·4) Rate of increase of the trend In comparison to the aame month 1990 ·H ·--·······E3!LI·----····--eun>etet •SY.'--------------------' EUR12 DK D E f IRL I NL UK USA JAP E, IAL and NL Htlmatecl for Ootober ches of industry. The EUR 12 production index, adjusted for the number of working days, is currently estimated at 121.4 (1985=100) for October, representing a fall of 0.6 % compared with October 1990. After 1euonal adju1tment, the estimated index for October 1991 is 114.3, as against 113.7 in September. The seasonally-adjusted EUR 12 pro-duction index for August, September and October fell by 0.9 % from the cumulative figure for May, June and July, and the corresponding fall for manufacturing industry (excluding mining) was -1.6 %. There is therefore no sign of a recovery. Manuscript completed on= 15.01.1992 In the USA growth in industrial production has remained stable at 0.8 % (quarter-on-quarter growth rate), while the Japanese growth rate of -1.1 % shows signs of a recession. When each Member State's seasonally-adjusted production index of all industry for the last three months is compared with that for the preceding three months, different rates of change do emerge at national level, but here too the general trend is towards stagnation. The rates of change are as follows, with the figures in brackets referring to manufacturing industry excluding mining: Ire-land 3.0 % (2.0 %), Spainl.O % (0.5 %), France 0.6 % (0.8 %), United Kingdom 0.2 % (-1.0 %), Denmark -0.2 % (-0.2 %), Italy -1.5 % (-1.6 %), Germany -1.6 % (-2.7 %), Netherlands -3.1 % (-0.5 %). The situation in the European automobile indus-try has deteriorated sharply. The production of EUR12 decreases at present with a rate of -2.0 % _(France+ 5 %, Italy -2 %, Germany-3 %, United Kingdom -11 %).