GLOBAL MANUFACTURING OUTPUT UP SLIGHTLY AFTER NEARLY THREE-YEAR DOWNTURN, UN REPORTS

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From: UNNews <UNNews@un.org>
Date: 4 Jun 2013 17:00:00 -0400
Subject: GLOBAL MANUFACTURING OUTPUT UP SLIGHTLY AFTER NEARLY
THREE-YEAR DOWNTURN, UN REPORTS
To: news11@ny-mail-p-lb-028.ptc.un.org

GLOBAL MANUFACTURING OUTPUT UP SLIGHTLY AFTER NEARLY THREE-YEAR
DOWNTURN, UN REPORTSNew York, Jun 4 2013 5:00PMThe declining trend
of manufacturing output seems to have been reversed but prospect of
recovery remains fragile due to the prolonged recession in Europe, the
United Nations today reported.

World manufacturing output grew by 1.7 per cent in the first quarter
of 2013, up from 1.3 per cent at the end of 2012, according to the
United Nations Industrial Development Organization (UNIDO).

"The recovery of industrialized economies has been jeopardized by
stagnation in Europe due to austerity measures," the report's authors
noted, adding that the large number of unemployed will remain that way
for the foreseeable future.

Manufacturing output in France fell by 4.2 percent, in Germany by 1.7
percent, in Italy by 4.5 percent, in the Russian Federation by 3.1
percent and in the United Kingdom by 2.1 percent, according to data
cited in the report. Positive growth in Europe was maintained by a few
smaller economies, including Austria, Estonia and Denmark.

Negative growth was observed in Japan in the first quarter but showed
signs of rebound with a 2.0 per cent growth on a quarter-to-quarter
basis. The falling exchange rate of the Japanese Yen against other
currencies is expected to reduce the price of Japanese goods abroad
which in turn may increase exports, the report predicted.

The base of the current growth is limited to the United States and
China only, the world's leading manufacturers. In the United States,
figures systematically rose in 2012 and the first quarter of 2013. The
most impressive growth, based on information in the report, in
machinery and equipment, electrical appliances and the manufacture of
motor vehicles.

Meanwhile, China's output grew by 9.7 per cent, slightly down from
10.0 per cent in the previous quarter. This high growth accounts for
more than half of the manufacturing output of developing and emerging
industrial economies. The main reason for the lower rate of growth has
been a fall in exports to industrialized countries, and low capital
inflow to developing countries in return.

The UNIDO report also contains the growth estimates for the first
quarter by major manufacturing sectors.Jun 4 2013 5:00PM
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