| dc.description.abstract | Production in European industry is still falling, with no signs of levelling off. Particularly production of capital goods, which should provide momentum for the next upturn, is declining notably. The rate of change of the production index adjusted for the number of working days for the European Community (EUR 12) was -3.8% in Production in construction (NACE 5) in the European Community saw a slight recovery: whilst the rate of change in the first quarter of 1993 compared with the last quarter in 1992 was -2%, the (estimated) rate for the second quarter of 1993 compared with the first quarter is +O. 5%. The rate of change in seasonally-adjusted industrial production for the individual June 1993 and -4.2% in May 1993 compared with the same months in 1992. The corre-sponding figures for West Germany are -8. 09'& in June and -9.4% in May. EUR12: SHORT TERM INDICATORS Community Member States in the last three months compared with the previous three months is as follows: Greece +3.1 %, Growth Rate over previous quarter The figures for the most recent three-month period, i.e. April to June 1993, show a rate of · · · · · · · · ·1 ·· ·~··Di ·1v~ 1 · · ·1% . -a ............................. . 1n1...... ...... <lansunar...,. .... ordMa Luxembourg +2.1 % [estimated], Belgium + 1.4% [estimated], Ireland + 1.3% [estima-ted], United Kingdom +0.8%, Italy -0.5%, Germany (West) -0.QO!b, Spain -0.QO!b [estima-ted], Netherlands -1. 2%, France -1.1 %, Por-tugal -2.2% [estimated], Denmark -3.0%. Thus production in the summer months is falling in many Member States or showing only very slight positive rates of change. The United Kingdom is the only major Member State to show signs of an upturn. Production fell in the following individual change in the sea-sonally-adjusted production index c.pillll ...,. CoMlrudian Expocts sectors of EC industry: manufacture of met-for EUR 12 which is 0.6% down on the previous three months (January to March). The picture is as follows for the major goods categories (change in the last three months compared with the previous three months): • • • Intermediate goods: EUR 12 -1.3%, USA 0.6% Capital goods: EUR 12 -1.6%, USA +1.1%, Consumer goods: EUR 12 -0.5%, USA-0.4% . Manuscript completed on= 20.09.93 al articles (NACE 31). food, drink and tobac-co (NACE 41/42), textile industry (NACE 43) and footwear and clothing (NACE 45). There was a slight recovery in production and preliminary processing of metals (NACE 22), manufacture of non-metallic mine-ral products (NACE 24) and chemical industry (NACE 25). Production also ceased to decline in the motor vehicle manufacturing sector (NACE 35) . |
