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January 13, 2006

Comments

Alex

Be interesting to see what they flog off with the float of QinetiQ - at least, if you're a 60s British aviation industry nostalgist..there are all kinds of odd things in the hangars at Boscombe Down and Farnborough from when we used to make things that weren't the same.

Those figures are even more depressing when you think they include North Sea oil production - the period you discuss includes the whole run-up from 1975 to the peak year, 1999, so the underlying figure for industrial production must be even worse.

But naturally, we'll easily be able to export enough ringtones and corporate lawyers to pay for the liquified natural gas imports, no?

angry_economist

Would they include NS Oil production? I doubt it - this is usually classified as an extractive primary industry with coal etc and is not conventionally classified as manufacturing output.

The only manufacturing output attributed to oil and gas would be fabrication of vessels, platforms, pipes etc.

However - these figures shroud some interesting features. E.g the Sheffield steel industry produces more output than it ever did, with a much smaller workforce. So lets not get too gloomy.

chris

Angry - the industrial production figures include oil output; the manufacturing ones don't.

angry_economist

oh well then we're just no good at making stuff any more then are we?!

is this particularly a bad thing? perhaps, perhaps not.

rjw

angry makes a good point. I wonder in that context about the extent of linkage between the evolution in industrial structure and rising regional and personal income inequality.

bam bam

this info is boring

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