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

 

Whaling: Japan’s Institute for Cetacean Research In Defiance Of World Court Ruling

The ICR Today Filed Court Briefs Stating They Intend to Return to Antarctica to Hunt Whales in 2015-2016; Will Seek to Enjoin Other Sea Shepherd Entities from Obstructing Their Operations More>>

Ukraine: UN Urges 'Maximum Restraint' Amid Situation In East Ukraine

Deeply concerned by the deteriorating situation in eastern Ukraine, United Nations Secretary-General Ban Ki-moon has called for maximum restraint and appealed to all sides to work towards calming the situation, which has the 'growing potential' to ... More>>

United Nations: Children Can Now Lodge Complaints With The UN

GENEVA (14 April 2014) – United Nations child rights experts have hailed a new treaty that allows children to complain directly to the UN Committee on the Rights of the Child about alleged violations of their rights. More>>

India: Election But A Ritual In Nation Lacking Rule Of Law

The Asian Human Rights Commission (AHRC) congratulates the people of India for their participation to elect the 16th Lok Sabha. The process has attracted, as usual, considerable media attention across the world. Media claims the process to be 'the largest democratic ... More>>

Solomon Islands: Thousands Remain Affected After Flash Floods

An estimated 52,000 people remain affected in the worst-hit areas of Honiara and greater Guadalcanal following last week’s devastating floods which killed at least 23 people. More>>

ALSO:

World: Some 437,000 People Murdered Worldwide In 2012 - UN

Almost half a million people across the world lost their lives in 2012 as a result of intentional homicide, with the highest murder rates logged in the Americas and Africa, and the lowest in Europe, Asia and Oceania, the United Nations Office on ... More>>

Central African Republic:: Security Council Establishes UN Peacekeeping Mission

Deeply concerned about the deteriorating security situation and ongoing human rights abuses in the Central African Republic (CAR), the Security Council today approved the establishment of a nearly 12,000-strong United Nations peacekeeping operation ... More>>

ALSO:

Parliament: NZ Sending Aid Flight To Solomons

Foreign Affairs Minister Murray McCully has announced further support for the response to severe flooding in Solomon Islands. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
World
Search Scoop  
 
 
Powered by Vodafone
NZ independent news