The graph above shows industrial production for the Eurozone as a whole and for Europe's five largest economies (including the UK which is not in the Eurozone). Data are from Eurostat, go through May 2011, and are indexed to show 2005 as 100. The general problem with the Eurozone post great-recession is abundantly clear - German production is soaring while everyone else languishes (with only France being slightly optimistic - but still not back to 2005 levels of production.
This is off-topic, but I'm wondering if you're broadly in agreement with this piece on peak oil?
ReplyDeleteSom, your link seems broken.
ReplyDeleteSo UK industrial production is down to 90% of what it was in 2005. Is that a problem if say, services, financial services, agricultural production have raised the GDP in that time-frame? Seriously?
ReplyDeleteSorry, here's the link for the article on peak oil I mentioned above.
ReplyDeletehttp://johnquiggin.com/2011/08/05/peak-oil-point-falls-flat/
Just checked UK GDP per capita stats on google/publicdata. 2005 was ~$38k, 2009 ~$35k. Ouch. A drop of of ~8%. Seems like services, finance, ag didn't help much!
ReplyDeleteEU's big product 'line' is autos: the EU manufactures the shovel it uses to bury itself.
ReplyDeleteNo penalty for stupidity in Europe, either ...