| dc.description.abstract | Industrial production trends in the European Com-munity (EUR12) up to November 1992 show that the recession is by no means over. The slump is conti-nuing. Production has continued to fall in all sec-tors of manufacturing industry. In November the index of industrial production (NACE 1-4), adjusted for the number of working days, stood at 119.3 (1985=100) for the Community as a whole, 3.6 % down on the previous November's figure. For the capital goods industries, the index fell 6.5 %, giving a seasonally-adjusted production Index for Novem-ber of 111.8, whereas in October it had stood at 114.4 and in January 1992 at 117.4. The seasonally-adju-sted EC production index fell by 0. 7 % in the past three months (September, October and November) Production Index -Manufacturing Industry ~ow1h rate of last 3 months to prec-dlng month EUR12 OK GR NL UK Japan 0 IRL USA Manuscript completed on = 15.02.1993 compared with the previous three months (June, July and August). The seasonally-adjusted figures for industrial output in the EC Member States are as follows (rate of change for the past three months compared with the previous three months, with the capital goods indu-stries in brackets): Denmark -2.8 % (-5.3 %); Greece -1.9 % (-8.7 %}, Italy -1.7 % (-3 %), Belgium -1.4 % (estimated) (+3.0%), Germany(West)-1.1 % (-1.4%), France -0.6 % (-1.6 %), Netherlands -0.5 % (-2.1 %), United Kingdom +I.I % (+0.1 %), Ireland +3.1 % (estimated) (+4.2 %). Production is therefore falling in very many Member States. In the USA, industrial production stagnated at +0.1 % (rate of change for the past three months compared with the previous three months); in Japan it fell slightly (an estimated +0.2 %). Eurostat has EC figures for the construction indu-stry for the first time. The_production index for the construction industry gives a slightly more cheerful picture. The seasonally-adjusted figures (rates of change for the past tJlree months compared with the previous three months) varied fairly widely however: EUR12 +0.4 %, Denmark -5.8 %, Italy -1.0 %, Belgi-um -0.6 %, France +0.1 %, United Kingdom + 1.2 %, Germany (West) +2.9 %, Luxembourg +4.5 %. |
