The Economic Situation: The World Overseas

1966 ◽  
Vol 36 ◽  
pp. 21-29
Keyword(s):  
United States ◽  
Growth Rate ◽  
Industrial Production ◽  
The United States ◽  
Economic Situation ◽  
Rapid Rise ◽  
Primary Producers ◽  
The World

World industrial production accelerated in the first quarter of 1966, mainly on account of the unexpectedly rapid rise in output in the United States. Japanese production has at last started to increase after over a year of stagnation, but there seems to have been some decline in the growth rate in Europe (table 14). Industrial production of the major primary producers continued to slow down.

The World Overseas

1965 ◽  
Vol 32 ◽  
pp. 22-32
Keyword(s):  
United States ◽  
Industrial Production ◽  
The United States ◽  
West Germany ◽  
Real Output ◽  
Rapid Rise ◽  
Industrial Countries ◽  
The United Kingdom ◽  
Actual Increase ◽  
The World

There was an increase of some 5 per cent in the real output of industrial countries between 1963 and 1964, but as far as Europe was concerned, much of the increase occurred during the second half of 1963. The actual increase during the year was only about 4 per cent (chart 7).Industrial production in the United States and Japan increased rapidly throughout the year, though at a somewhat declining rate. In Europe the pattern was more varied. Expansion was strong and accelerating in West Germany, but the rapid rise of the second half of 1963 was followed by stagnation in France and the United Kingdom and by an actual decline in Italy. Italian production began to recover towards the end of the year.

Chapter II. The World Economy

1967 ◽  
Vol 41 ◽  
pp. 17-27
Keyword(s):  
United States ◽  
Industrial Production ◽  
World Economy ◽  
The United States ◽  
Economic Situation ◽  
West Germany ◽  
Industrial Countries ◽  
The World ◽  
Trading Partners

The economic situation among the industrial countries has been developing less favourably than we envisaged in May. In the second quarter there seems to have been only a modest recovery in output in the United States and a further decline in West Germany. The sluggishness of demand in these two countries is having repercussions on the economies of some of their chief trading partners, and for the industrial countries as a whole there was probably little change in industrial production in the second quarter.

Chapter III. The World Overseas

1963 ◽  
Vol 23 ◽  
pp. 33-42
Keyword(s):  
United States ◽  
Industrial Production ◽  
World Trade ◽  
The United States ◽  
Fourth Quarter ◽  
Long Run ◽  
United States Economy ◽  
The World ◽  
Second Year

The outlook for world industrial production—and consequently in the long run for world trade-is, if anything, a little more cheerful than it was in November. The prospect is still that the rise in both will be slower than in recent years; but the risk that there might be no rise at all is much smaller than it was. First, the fears of any appreciable dip in the United States economy this year have largely evaporated. Then, for the second year running, industrial production in EEC countries, after apparently flattening off in the middle of the year, rose in the fourth quarter; this adds some confirmation to the forecast of a reasonable rise in EEC output next year.

Chapter II. The World Economy

1976 ◽  
Vol 77 ◽  
pp. 33-49
Keyword(s):  
United States ◽  
Industrial Production ◽  
World Economy ◽  
Early Stage ◽  
The United States ◽  
Oecd Countries ◽  
The Third ◽  
The World ◽  
Trading Partners ◽  
To Come

It is now clear that output in the OECD countries rose even faster in the early stage of the recovery than we had previously supposed. Between the third quarter of 1975 and the first quarter of 1976 their aggregate GDP appears to have increased at an annual rate of 7 per cent and their industrial production at 12 per cent. By the second quarter, however, stock movements were probably making a substantially smaller contribution to the expansion of demand. The rate of growth of industrial production has slowed down considerably since the spring and the same is probably true of GDP, particularly in view of the effects of the drought on European agricultural output. By the second half of next year we expect the deceleration to become more pronounced in the major countries, particularly the United States. The smaller countries have, however, been lagging behind their bigger trading partners in the recent cycle and their phase of rapid recovery is probably yet to come. In all we expect OECD countries' aggregate GDP to increase in volume by 5½–6 per cent this year and 5 per cent in 1977.

Deficit Financing, Controls, and Movement of Prices in India since 1947 by A. Vasudevan. Bombay: Allied Publishers Private, Ltd., 1967. pp.239.

1968 ◽  
Vol 8 (3) ◽  
pp. 499-500
Author(s):  
Frank C. Child
Keyword(s):  
United States ◽  
Growth Rate ◽  
Western Europe ◽  
Slow Growth ◽  
High Growth ◽  
The United States ◽  
High Growth Rate ◽  
Success Story ◽  
The World ◽  
Deficit Financing

Experience with the processes of inflation and growth is varied around the world and through time. In Western Europe and the United States, there has been rapid growth (or slow growth) when prices were rising and when they were not. The Japanese success story shows that more or less chronic inflation is consistent with a high growth rate; but it also shows that the growth rate is less rapid at the highest (observed) rates of inflation. Socialist countries, like Poland and Russia, have experienced (planned?) inflation in accompaniment to growth. Recent Brazilian and Mexican experience suggests that a rapid inflation is consistent with (contributed to ?) a high growth rate. Indonesia and Ghana provide examples of inflation leading to stagnation or disintegration rather than progress. Other contradictory examples add to our mixed bag of empirical evidence.

THE IMPACT OF ECONOMIC POLICY UNCERTAINTY ON INDUSTRIAL PRODUCTION IN THE UNITED STATES: PRE-PANDEMIC EVIDENCE

2021 ◽  
Author(s):  
Dejan Romih
Keyword(s):  
United States ◽  
Economic Policy ◽  
Industrial Production ◽  
Vector Autoregression ◽  
The United States ◽  
Policy Uncertainty ◽  
Economic Policy Uncertainty ◽  
The World ◽  
Growing Body ◽  
The Impact

Although the Covid-19 pandemic (the Great Lockdown), which began in March 2020, is not over yet (mainly due to new SARS-CoV-2 variants, such as Delta), there is already a growing body of evidence that suggests that the Covid-19 pandemic has contributed to an increase in economic policy uncertainty in the United States and the rest of the world. In this paper, I examine the impact of economic policy uncertainty on industrial production in the United States before the Covid-19 pandemic. Using vector autoregression, I found that industrial production in the United States responds negatively to a positive economic policy uncertainty shock in the United States. This suggests that US economic policymakers need to prevent economic policy uncertainty in the United States

Chapter III. The World Economy

1976 ◽  
Vol 75 ◽  
pp. 33-63
Keyword(s):  
United States ◽  
United Kingdom ◽  
Industrial Production ◽  
World Economy ◽  
Good Deal ◽  
The United States ◽  
National Accounts ◽  
Industrial Countries ◽  
The United Kingdom ◽  
The World

The fall in output in the industrial countries in 1975 was substantially greater than we and most other observers foresaw a year ago.After big revisions of the national accounts for the United States, the fall in aggregate output in the member countries of OECD now works out a good deal smaller on our estimates than it did in November. But the final figure still seems likely to be close to 1¾ per cent, compared with our February forecast of ½ per cent. For industrial production we were much wider of the mark, the actual decline being 8–9 per cent as against the 2 per cent that we predicted. Geographically our error was heavily concentrated among the major European countries including the United Kingdom—on the latest figures we actually under-predicted United States output by a substantial amount—and it appears to have sprung from two main sources.

Chapter III. The World Economy

1980 ◽  
Vol 93 ◽  
pp. 36-48
Keyword(s):  
United States ◽  
Industrial Production ◽  
World Economy ◽  
Western Europe ◽  
The United States ◽  
Similar Magnitude ◽  
Slowing Down ◽  
Significant Fall ◽  
The World

The growth of output in OECD member countries has been abruptly checked. Helped perhaps by relatively favourable weather, industrial production appears to have increased by 1-1½ per cent in the first quarter. In the second, however, there seems to have been quite a significant fall in Western Europe as well as in the United States, and a marked slowing down of growth in Japan (table 1). We no longer expect the aggregate rise for the year in member countries to be any more than ½ per cent (implying a drop of similar magnitude from the first quarter's rate), and the OECD secretariat has been forecasting a marginal fall. In terms of GDP the change of trend has been less pronounced but may well have been equally general. Though both we and OECD are expecting a rise of a little more than 1 per cent for the whole of 1980, some fall seems likely in the second half of the year.

Chapter II. The World Economy

1967 ◽  
Vol 40 ◽  
pp. 14-25
Keyword(s):  
United States ◽  
United Kingdom ◽  
Industrial Production ◽  
World Economy ◽  
Western Europe ◽  
The United States ◽  
Fourth Quarter ◽  
West Germany ◽  
The United Kingdom ◽  
The World

The growth of world industrial production slowed down in the fourth quarter of last year and in spite of relatively mild weather in Western Europe there must have been an actual fall in the first quarter of 1967. The change of trend has been most marked in West Germany, but also has affected a number of other countries, including the United States and the United Kingdom.

Chapter II. The World Economy

1975 ◽  
Vol 73 ◽  
pp. 25-40
Keyword(s):  
United States ◽  
Industrial Production ◽  
World Economy ◽  
The United States ◽  
West Germany ◽  
The Other ◽  
Total Output ◽  
Industrial Countries ◽  
Other Hand ◽  
The World

The recession had probably reached its trough by the middle of the year. Total output in the United States hardly changed in the second quarter and the industrial component began to rise slightly in June, while in Japan industrial production has been increasing since March. On the other hand it now appears that in a number of other industrial countries, notably France and West Germany, output in the early months of the year was substantially lower than we suggested in May and the decline in OECD's aggregate GDP will probably be of the order of 2–2½ per cent for 1975 as a whole. In 1976 we now expect an increase of nearly 5 per cent.

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