AS per the uarterly report issued by the UN Industrial Development Organization (UNIDO), the
global manufacgturing output is expected
to be lower this year than last year, despite high growth rates in developing
countries. The report states that world manufacturing output rose by 5.2 per cent in the second quarter
of 2011, compared to 7.4 per cent in the first quarter.
If this trend continues, the overall growth of manufacturing value added (MVA)
this year is expected to be 5.2 per cent, which is slightly lower than in 2010,
according to the Vienna-based agency.
The report also notes that developing countries have maintained higher growth
rates of manufacturing production, increasing by 11.1 per cent, and their MVA
is expected to grow by 8.4 per cent this year.
China
is the major contributor to this growth, with an output that increased by
14.3 per cent in the second quarter compared to the same period of 2010.
The growth rate
of the United States, the world’s largest manufacturer,
dropped to 4.4 per cent in the second quarter from almost 7 per cent in the
first quarter. Manufacturing output growth rates also fell in France, Italy
and the United Kingdom, while Germany maintained high growth of 9.4 per cent
in the second quarter.
The production of motor vehicles, meanwhile, fell significantly due to the
severe decline of this industry in Japan.
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