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Published online by Cambridge University Press: 26 March 2020
Between the end of 1964 and the middle of 1965 there was some increase in the rate of growth of world industrial production, entirely due to the rapid expansion in the United States and Canada. The rate of growth in Europe apparently fell slightly partly owing to the relative stagnation in the United Kingdom, but also because of some slowing down in West Germany and the Netherlands and slight falls in Belgium and France which were not, taken together, fully offset by the upswing in Italy. Japanese production has remained virtually unchanged for a year (table 10).
note (1) page 19 The seasonal adjustments applied by several of the European countries appear to take insufficient account of the general increase in holidays, so that the slowdown shown during June-August may be purely statistical in origin.
note (1) page 21 Since the last Review the Department of Commerce has published revised national income statistics for the United States. The new figures are given in Statistical Appendix table 18. These show an increase in gross national product at constant prices of 5.0 per cent in 1964 as compared with the figure of 4.8 per cent included in table 20, p. 32 of the August Review.