The global industrial production is expected to maintain a consistent growth in 2012, even as it hinges on actions taken by Europe and the US, a UNIDO report has said.
The global manufacturing output in the July-September quarter rose 5.5 per cent compared to the same period in 2010, it says. “If the current trend prevails, it would be fair to make an optimistic projection that world industrial production is likely to stabilise in 2012,” the report said.
In the first and second quarters of 2011, the sector grew 5.2 per cent and 6.5 per cent respectively, it said. However, much would depend on the actions taken by the governments in Europe and the US to consolidate their budgets and the implications of their fiscal policies on the manufacturing sector, it added.
Both the US and Europe are facing slowdown in their economies. The report points out the manufacturing output of developing countries grew at a robust 13 per cent over 2010.