| dc.description.abstract | Production continues to fall in European industry, and there is no sign ofit bottoming out. This applies in particular to the capital goods industry. EUR12: Latest Evolution in Industry Change in comparison to previous year 4% 2% 0% -2% -4% -6% Production Export Output Prices Employment The rate of change in the industrial production index, adjusted for working days, was 2.3% down for the Community (EUR12) in August 1993 over the corresponding month of the previous year; the figure for July was -4.3%. The corresponding rate of change in August for capital goods was -5. 5%. If one takes the figures for the last three available months, June to August 1993, the rate of change in the seasonally-adjusted production index for EUR12 was -0.4% compared with that of the three preceding months, March to May. The recession is even more pronounced in Japan, where the corresponding rate of change is -0.7% (estimated). Nor is there any noticeable upswing in the USA. where the figure is +0.5%. At Member State level. the rates of change for the last three months compared wit h the previous months are as follows for the sea-sonally-adjusted industrial production in-dex: Denmark +4.6%, Greece +l.5%, Spain +1.6%, United Kingdom +1.1%, Nether'" lands 0.0%, Germany -0.3%, France -0 .6%, Italy -1.2%, Ireland -2.3% (estimated), Bel-gium -3.6% (estimated). Production thus fell or remained at a low level with slight positive rates of change in many Member States in the summer. Industrial production fell particularly in the following sectors of EC industry: the pro-duction of metals [NACE 22). the manufac-ture of metal articles [NACE 31], the motor vehicle industry [NACE 35} and the textile industry [NACE 43]. |
