January 09, 2025 03:17 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Los Angeles wildfire leaves 5 dead, forces 1 lakh including celebs to flee, Hollywood hills ablazed | PM Modi condoles death of six people in Tirupati stampede incident | Days after condemning Pak airstrikes, India in a first engages with Afghanistan's Taliban regime | 6 dead in stampede near Tirupati temple during token distribution to offer prayers | Prominent journalist-film producer Pritish Nandy dies of cardiac arrest at 73 | Thousands, including Hollywood stars, flee Los Angeles upscale neighbourhood as wildfire engulfs homes | Sheesh Mahal row: AAP leaders who were denied entry into CM's residence turn towards PM's house | Anna University sexual assault accused is a DMK supporter, not member: MK Stalin | Ajit Doval, Raja Dato discuss bilateral cooperation during India-Malaysia Security Dialogue | US President-elect Donald Trump threatens to use economic force to make Canada 51st US State, Justin Trudeau retorts sharply

Global manufacturing output continues to climb in wake of recession, UN reports

| | Jun 12, 2014, at 06:10 pm
New York, June 12 (IBNS) World manufacturing is in a phase of steady growth due to the improved financial condition of industrialized countries, especially in Europe, and China’s continued growth, the United Nations Wednesday reported.

Output rose by 5.1 per cent in the first quarter of 2014, the highest rate in several years, according to the UN Industrial Development Organization (UNIDO).

“Higher growth in the production  of durable goods, such as household equipment, electronic goods and motor vehicles, indicated rising consumer confidence in long-term stability,” the UN agency reported.

Industrialized countries account for almost two-thirds of world manufacturing value added and growth in these economies has significant impact on global manufacturing.

“The base of current growth in industrialized countries has considerably broadened,” the report’s authors noted, adding that manufacturing output rose in all industrial sectors, including traditional sectors as food manufacturing and textiles.

Manufacturing output rose by 3.3 per cent in industrialized countries and 9.4 per cent in developing and emerging industrial economies in the first quarter of 2014. However, excluding China whose output grew by 13.1 per cent, manufacturing growth in emerging industrial economies was just 1.4 per cent.

The manufacture of machinery and equipment rose by 6.4 per cent in Canada, by 17.7 per cent in Japan, and by 6.0 per cent in the United States.

However, growth prospects for developing and emerging industrial economies remain fragile. Manufacturing output in Argentina fell by 1.8 per cent, in Brazil by 0.2 per cent and in India by 1.6 per cent.

The major risks to a recovery of these economies relate to the reversal of capital flows, as an external factor, and the rise in the cost of production as an internal factor, the authors summarized.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia Mar 22, 2023, at 08:26 pm