NEW YORK, June 8 (UPI) -- The growth in worldwide manufacturing is slowing because of high energy prices and a scramble to trim inventories, U.S. analysts say.
Daniel Meckstroth -- chief economist with Manufacturers Alliance/MAPI, a public-policy group in Arlington, Va. -- said he expects global industrial output to rise slightly in 2006 as inventories get worked off and major economies continue more-modest growth, the Wall Street Journal reported Wednesday.
"Virtually across the world, the rate of growth is decelerating in manufacturing," says Meckstroth.
U.S. industrial production is expected to rise 3.7 percent this year, slower than the 4.1 percent growth of last year. German manufacturing is expected to grow 1.9 percent, less than this year's 2.4 percent; and Italy appears headed for a 2005 growth of 0.5 percent.
