Word: ece
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...first quarter of 1956, said ECE, continental Western Europe's total industrial output soared 26% over the 1953 figure while Britain's limped along at a 13% gain. Output of consumers' durable goods rose 96% in West Germany, 68% in Italy, 50% in France, only 28% in Britain. Accelerating Britain's slump was her skidding production of autos, chemicals, textiles...
...reason for Britain's slide was mounting competition from West Germany. While Britain's gold and dollar holdings dropped, West Germany's shot from $134 million to $360 million. So fast was West Germany forging ahead of her Western neighbors in exports and payment balances that ECE cautioned that "the increasing divergence between the balance of international transactions of Western Germany and of other countries does constitute a potential threat both to the future progress of trade liberalization in Western Europe and the continued expansion of the Western European economy...
Still, Germany and the rest of the booming continent share one problem with Britain. A pressing labor shortage is curtailing industrial expansion throughout Europe, said ECE. As a result, demand is outracing supply, and prices...
Russian Gain. ECE also reported sizable increases in production in the Iron Curtain countries-based on their own somewhat questionable statistics. Soviet Russia's three big agricultural areas this year expect to produce 60 million tons of grain v. 36 million tons before Nikita Khrushchev plowed into the virgin lands of Kazakhstan and Siberia...
...only has Russia passed many a European nation in capital investment, says ECE, in some industries its rate of expansion is actually faster than the rate in the U.S. By 1960 the Soviet Union will be producing 68 million tons of steel yearly. Though only about half the U.S. output in 1955, the Russian production will then be nearly 2½ times its 1955 level...