Ip Data Reveal Extent Of Downturn

摘要

Further evidence of the severity and breadth of the economic downturn during the 4q08 was provided by the latest data on industrial production in the world's key economies. As well as confirmation of further contractions in the mature economies of the US, Europe and Japan, annual growth in India turned negative and Chinese growth slipped to the slowest pace in over six years. In Japan industrial output for the month dropped by a massive 16.2% on November 2007, while US production was down 5.5% over the same period. IP in India also contracted 0.4%. In China the month's output was up 5.4% year-on-year, which represents a dramatic slowing from annual increases of 15-18% seen in the 1h08. In Europe, German IP in October was down 3.1 % on the same month in 2007, the biggest decline since data on unified German became available in the early 1990s.