By Franklin Alli
The United Nations Industrial Development Organization (UNIDO) yesterday released world manufacturing production for the third quarter of 2017, stating that manufacturing growth accelerated worldwide by 4.5 percent.
In the report, ‘World Manufacturing Production Statistics for Quarter III, 2017”, Shyam Upadhyaya, UNIDO Chief Statistician, said: “Thereport, which is based on figures obtained for the third quarter of 2017, states that global manufacturing output rose by 4.5 per cent in the third quarter of 2017, compared to the same period of the previous year, thus suggesting that the upward trend observed in world industrial production since the beginning of 2016 has gained further strength.”
According to the report, Africa’s manufacturing output rose by 6.4 per cent in the third quarter of 2017. South Africa, the region’s most industrialized economy, reversed the declining trend observed in previous quarters and achieved a positive growth in the thirst quarter. In North Africa, positive growth of manufacturing output was observed in Egypt, Morocco and Tunisia.
The report added that manufacturing output rose in all major industrialized economies and in developing and emerging industrial economies.
“This is the first time for several years that no negative trend in manufacturing production is being reported in any major world economies or regions.
“Industrialized economies have achieved the highest growth of manufacturing output in the post-crisis period. The manufacturing output of industrialized economies rose by 3.1 per cent in the third quarter of 2017, compared to the same period of the previous year.’
Source: Vanguard News