UN: Manufacturing grew 2.2 percent in 2012

Feb. 16, 2013 at 9:59 AM

VIENNA, Feb. 16 (UPI) -- A United Nations report released in Vienna said the recession in Europe is punishing for Europe, but also for economies in emerging nations.

A report by the U.N. Industrial Development Organization in Vienna said that world manufacturing grew by 2.2 percent in 2012, a sharp drop from the 3.1 percent that was expected as of mid-year.

Manufacturing grew at a rate of 8.7 percent per year in Asia in 2012 and 5.9 percent in Africa, the report said. In nation's with developed economies, manufacturing grew only 0.3 percent in 2012, the report said.

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