ECSC financial report 1982

Abstract

The Community's economy in 1982 failed to live up to the hopes of a significant upturn in activity around the middle of the year and the levelling-off of unemployment expected at the end of the year. Gross domestic product rose very slightly in 1982 (by 0,2%). but in7 dustrial production in the 1 0 Community countries dropped by more than 1 o/o compared with the previous year ( 112,8 compared with 114,6), 1 the fall being more pronounced in capital goods ( 112,1 com-pared with 113,6) than in consumer goods ( 113.4 compared with 113,6). In December capital goods production fell to its lowest level for three years. Employment dropped again: unemployment, which averaged close on 8% of the working population in 1981, rose to over 9% in 1982. The increase in consumer prices slowed down, mainly because of the drop in the dollar prices of various commodities.