World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 


Prospects for Global Manufacturing Recovery Dim - UN Report

Prospects for Global Manufacturing Recovery Dim, Says New UN Report

New York, Dec 3 2012 - New setbacks have dimmed the prospects of a global manufacturing recovery, says a new United Nations report released today which finds that growth in this sector has remained sluggish in the third quarter of 2012, with output rising by just 2.2 per cent compared to the same quarter last year, the lowest rate since 2009.

According to the world manufacturing production statistics for the third quarter of 2012, published by the UN Industrial Development Organization (UNIDO), trends for the first half of this year were a mixture of dynamic growth in North America, East Asia and developing countries, and uncertainty in Europe.

However, the latest production data indicate "a stronger recession in Europe and a weakened recovery in North America and East Asia, as well as a sustained slowdown in developing countries," the Vienna-based agency said in a news release.

It added that industrialized countries, as a group, have experienced a decrease in industrial production for the first time since 2009.

UNIDO estimates show that during the third quarter, manufacturing output dropped in all major euro-zone economies compared to the same quarter in the previous year, with Germany experiencing a fall of 1.7 per cent, Italy 6.2 per cent, France 1.9 per cent and the United Kingdom 0.9 per cent. Austria, Malta and Slovakia were among the few nations registering positive growth.

Manufacturing output in Japan decreased by 4.6 per cent, while it grew by 4.1 per cent in the United States and by 0.3 per cent in Russia.

The agency pointed out that, compared to industrialized countries, the rate of industrial growth of developing countries remained high, however the impact of global contraction is clear.

The manufacturing output of developing countries grew by 6.6 per cent in the third quarter, compared to the same quarter last year, but fell by 2.3 per cent compared to the second quarter.

Manufacturing output in China grew year-on-year by 9.2 per cent, in Mexico by 4.1 per cent and in Turkey by 3.3 per cent. India achieved a nominal growth of 0.2 per cent but manufacturing output fell in Latin American countries.

Manufacturing in African countries, which depends heavily on the export of primary processed commodities to Europe, has also slowed down. Based on limited data, UNIDO estimates that the manufacturing output of African countries as a group rose by just 2.6 per cent. South Africa showed a rise of 2.9 per cent, but Egypt's output fell by 5.9 per cent.

For more details go to UN News Centre at http://www.un.org/news

ENDS

© Scoop Media

 
 
 
 
 
World Headlines

 

As Health Needs Rise In Somalia, Funding Hits New Low

As health needs rise in Somalia, funding hits new low, cutting off 1.5 million from care – UN More>>

Need To End Violence Against Children In Conflict

‘We should be outraged’ more not being done to end violence against children in conflict – UNICEF chief More>>

On Mandela Day, UN Joins Call To Promote Community Service

Nelson Mandela, then Deputy President of the African National Congress of South Africa, raises his fist in the air while addressing the Special Committee Against Apartheid in the General Assembly Hall. UN Photo/P. Sudhakaran More>>

Some $3.2 Billion Needed For Ebola Recovery Efforts

Some $3.2 billion needed for Ebola recovery efforts in Guinea, Liberia and Sierra Leone – UN More>>

World Day: UN Spotlights Plight Of Vulnerable Populalations

Syrian refugees fleeing the fighting near the Syrian city of Kobani wait in a holding area before boarding buses in Turkey (September 2014). Photo: UNHCR /I. Prickett More>>

Afghanisatan: Direct Talks Between Government And Taliban

The United Nations Security Council has welcomed the recently held direct talks between Afghan Government and Taliban representatives as a step towards “peace and reconciliation” in the region. More>>

Eradicating World Hunger By 2030

Agriculture workers collect carrots on a farm in Chimaltenango, Guatemala. Photo: World Bank/Maria Fleischmann More>>

Bangladesh: Flood Leads To UN Agency Providing Food Relief

Anwar Hossain unloads cartons of High Energy Biscuits from a pickup truck and transfers them to a distribution center in Kawar Khop union, Ramu upazila, Cox’s Bazar, Bangladesh. Photo: WFP/Kamrul Mithon More>>

Ban Says World Must Act Now To Curb Climate Change

Alarmed by melting glacier in Norway, Ban says world must 'act now' to curb climate change More>>

UN Spotlights Data And Technology As Key To Sustainability

The importance of quality data and cutting edge information communication technologies (ICTs) is increasingly critical to the shaping of the future sustainable development agenda, the head of the United Nations Development Programme ( UNDP ) confirmed today. More>>

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news