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Economy in Brief

 May Industrial Production Up Sharply in France and Greece, Less So in Sweden and Turkey, but the Latter Two Show Greater Long Term Growth 
by Louise Curley July 10, 2006

Four counties--France, Greece, Sweden and Turkey--released industrial production data for May this morning. France and Sweden are more highly developed in an economic sense than Greece and Turkey.

In France, where industrial production is only slightly higher than it was in 2000, industrial production rose from 101.7 in April to 103.7 in May. While Sweden showed a smaller increase from 111.8 in April to 112.7 in May, the level of production in Sweden is almost 13% above its 2000 level. The stronger trend in Sweden's industrial production compared with that of France is shown in the first chart.

Industrial production trends in Greece and Turkey show similar trends with Greece showing little growth since 2000 and Turkey, substantial growth. (The reported data for Turkey are based on 1997=100. We have adjusted these data to 2000=100) by changing the index base in the advanced function menu.) Production in Greece increased 4.7% in May from April, but was only 2.5% above May of 2005. Production in Turkey increased only 0.9% in May from April, but was 9.0% above May, 2005. Industrial production data for Greece and Turkey are shown in the second chart.

Industrial Production (2000=100) May  06 Apr 06 Mar 05 M/M% Y/Y % 2005 2004 2003
France  103.7 101.7 101.0 1.96 2.67 101.8 101.6 99.6
Sweden 112.7 111.8 106.3 0.81 6.02 107.9 106.2 103.0
Greece 100.2 95.6 99.7 4.77 0.49 99.4 100.5 99.3
Turkey 135.7 134.4 124.4 0.94 9.01 125.7 119.3 108.7
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