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Economy in Brief

Contrasting Trends In Industrial Production Of Developed And Developing Economies
by Louise Curley   October 11, 2010

Industrial production data for August and, in some cases, September, have recently been released for a number of countries. Today, data for two developed economies--France and Italy--and two developing economies--Indonesia and Kazakhstan--were released.

Industrial production in France held steady at 92.2 (2005=100) in August while production in Italy increased from 89.1 in July to 90.5 in August, a 1.6% rise, the largest month to month increase since January of this year. Although industrial production in both countries has improved since the low points reached in early 2009, it is still well below the pre recession peaks of 110.0 in August, 2007 for Italy and 104.5 in April 2008 for France, as can be seen in the first chart.

In contrast to the slow recovery in industrial production in the developed economies of France and Italy, the recovery in manufacturing production in the developing economies of Indonesia and Kazakhstan has been more rapid. Kazakhstan, which experienced a sharp drop in manufacturing production in the recession from 140.0 (2005=100) in April, 2008 to 91.6 in January 2009 reached 153.3 in May of this year. Since then the pace of recovery has slowed, but at 145.1 in September manufacturing production was still above the pre recession peak of 140.0, As can be seen in the chart, showing manufacturing production in Kazakhstan and Indonesia, manufacturing production in Indonesia suffered only a moderate setback during the global recession. Manufacturing production declined from the pre recession peak of 107.5 in January, 2008 to a low of 105.9 in December, 2008. A recent peak of 113.2 was reached in April of this year and in August was only slightly lower at 112.4

Industrial Production(2005=100)
  Sep 10 Aug 10 July 10 Jun 10 May 10 April 10 Pre
Recession
Peak
Date
France -- 92.2 92.2 91.5 93.0 91.8 104.5 Apr 2008
Italy -- 90.5 89.1 88.8 88.3 87.4 110.0 Aug 2007
Emerging Nations
Indonesia -- 112.4 113.5 113.2 112.5 111.9 107.5 Jan 2008
Kazakhstan 145.1 148.7 147.6 152.1 149.1 153.6 140.0 Apr 2008
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