Report on World Manufacturing Production Q3 2018
- World manufacturing output rose by 3.2 percent in the third quarter of 2018, lower than the 3.4 percent recorded in the second quarter. Global manufacturing growth has now been declining for three consecutive quarters, amid rising tension over trade and tariffs among the leading manufacturing nations, especially the United States, members of the European Union and China.
- The major setback was observed in the industrialized economies, which account for more than half of global industrial output. Disaggregated figures by region indicate lower growth in Europe and East Asia compared to North America, where the manufacturing output rose by 3.4 percent.
- The growth performance was higher in developing and emerging industrial economies in the third quarter, although the overall impact of declining global growth was evident.
- Medium-technology industries, including the manufacture of rubber and plastic products, non-metallic mineral products and basic metals, were able to resist decelerating year-on-year growth rates in manufacturing output and expanded at 3.3 per cent in the third quarter of 2018.