Interim Index of Industrial Production
(Average 1946 = 100)
All industries
Manufacturing industries
1947
1948
Points Increase
1947
1948
Points Increase
3rd Quarter
109
115
October
120
126
November
123
129
115
123
++++
+ 6
6969
110
118
8
122
128
123
132
+ 9
115
125
+10
December
Coal
9. The weekly output of deep-mined coal in February was 4,092,000 tons, almost exactly the same as in November last. This represented an increase of 4.5 per cent. over the level of output in February 1948. Production this year has been exceeding the provisional weekly targets and total production of deep- mined coal for the first eleven weeks of the year amounted to 44 5 million tons- 1.02 million tons more than in the corresponding period of last year.
Output of Deep-mined Coal
(Weekly averages)
•
1947-48 ..
Th. tons
1948-49 Th. tons
Change Per cent.
November
4,000
4,094
December and January
+ 2.4
3,760
3.864
+ 2.8
February
3,915
4,092
+4.5
March, 1st week
3,991
4,084
42.3
2nd week
3,980
4,128
+3·7
3rd week
4,031
4,112
+2:0
10. Output per manshift at the coal face continues to rise slowly and in the second week of March was 3.04 tons. For five successive weeks it has been above 3 tons. Absence from work, however, rose steadily from 13.96 per cent in the second week of January to 15.86 per cent. in the first week of March and was appreciably higher than in the corresponding period of last year.
Man-power, Absence from Work and Productivity at the Coalface
Workers at
Output per manshift at coalface
coalface (thousands)
Absence from work at coalface
(per cent.)
(tons)
1948
1949
1948
1949
1948
1949
February-
1st week 2nd week
291
297
14.69
14.96
2.91
2.98
....
291
297
14.53
15.41
2.95
3.02
3rd week
291
298
13.87
15.61
2.92
$3.01
...
4th week
292
298
14.10
15.65
2.92
3.03
March-
1st week...
292
298
13.75
15.86
2.93
3.01
2nd week
292
298
14.28
15:67
2.93
3.04
11. Total distributed stocks of coal amounted to 11.09 million tons at 12th March-2.54 million tons less than a year ago, but 5:88 million tons greater
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Page 475
Iron and Steel
3
12. Phe outputfof8 steel ingots and castings rose to lag047tonsfi48 She first week of February and the weekly average for the month of 311,000 tons was the highest ever recorded, exceeding the previous high level of 303,000 tons a week achieved in November. This further expansion in steel production was due largely to increased supplies of both imported and home-produced scrap. Pig- iron production, though greater than in January, was less than in November 1948. Stocks of scrap declined in February but are expected to be maintained at just over 500,000 tons during March and April. Stocks of pig-iron also declined in February but are expected to rise to 500,000 tons by the end of April.Das fitness Textiles
·
13. The output of cotton yarn (including cotton-waste yarn) rose to 18 18 million lb. in the first week of February but declined to 17 70 million lb. in the first week of March. This was below the rate of 18 27 million lb. a week in October 1948 and the post-war peak of 18 36 million lb. a week in November. ... 14. Production of rayon yarn in January attained a new high level of 13-8 million lbs.1 per cent. greater than the previous high level in November and 13 per cent. above the level in January 1948. Output of staple fibre also rose in January but was still below the level reached last September.
!
15. Output of other textiles also rose in January but was still below the highest levels attained in 1948.
Motor vehicles
16. The number of passenger cars produced rose to 7,478 a week in February exceeding the previous record of 7,232 a week achieved in June 1948: The proportion of these cars produced for export declined again to 63 6 per cent. compared with an average of 74 1 per cent. in the second quarter of 1948 and the number produced for the home market rose from 1,972 a week in the last quarter of 1948 to 2,718 a week in February. The number of large passenger cars (over 2,200 c.c.) produced for export declined in February.
Weekly output of passenger cars (including chassis)
Percentage of total passenger car production
Number of large passenger cars (over 2,200 c.c.) produced
for export
For home
Total
market
For export
1948 Ist: Quarter
69.5
230...
106
124
2nd Quarter
74.1
280
112
168
3rd--Quarter
70-7
501.
233
268
4th Quarter
68.1
847
341
506
1949 January
64.3
937
310
627
February
63.6
994
393
601
17. The value of exports of passenger cars to the United States déclined sharply from an average of £634,000 a month in the last quarter of 1948 to £186,000 in February. Exports to Canada in January and February were also lower than in the last half of 1948.
Export of all Passenger Cars (including chassis)
(Monthly averages)
£ thousand
Total to all
To
countries
United States
To Canada
1948 1st Quarter
4,575
286
52
2nd Quarter
5,582
360
251
3rd Quarter
4,697
593
433
4th Quarter
5,233
634
460
February
1949 Januaryge 476 of 488
5,325
325
4,543
186
Page 478f 488
36719
386
B 2
242
4
18. Production of commercial vehicles also rose in January to 3,892 a week- a rape exceeded fong in October last. Production pas only slightly lower in February. 1,981 vehicles a week were produced for export compared with the previous record of 1,984 a week in September 1948.
III.-Building
19. The number of new permanent houses (excluding aluminium houses) completed rose in February to 15,606. 15,367 new houses were started in February, so that the number of houses under construction was reduced by only 239 to 186,591 at the end of the month.
20. New contracts, which declined from 18,435 in December to 14,507 in January, rose to 15,297 in February.
IV.
External Trade
21. The final figures of overseas trade in the short month of February show a drop in the value of British exports to £140.7 million from the record level of £159.2 million achieved in January. The volume of exports in February is provisionally estimated at 143 per cent. of the volume in 1938. The value of imports, however, fell from £187.2 million in January to £162.0 million in February and the adverse visible balance (exports and re-exports (f.o.b.) less imports (c.i.f.)) declined further from £22.9 to £16.9 million-the lowest level since July 1946.
•
22. Although the value of British exports to the Western Hemisphere rose further to £26.5 million in January this represented only 16 7 per cent. of total British exports compared with 17.6 per cent. in the last quarter of 1948. The value of exports to the United States rose to £5.95 million in January compared with a monthly average of £5 60 during the last quarter of 1948 but the proportion of our total exports going to the United States fell from 3.9 to 3.7 per cent. Exports to Canada and Newfoundland declined in January both in value and as a proportion of total exports.
British Exports to the Western Hemisphere
(Monthly averages)
Total to Western Hemisphere
To United States
To Canada and New- foundland
Per cent. of total British exports
£ million
Το Western Hemisphere
To United
To Canada
and New-
States
foundland
1938
6.9
1.7
2.0
17.7
4.4
5.0
1947
14.9
4.0
3.7
15.7
4.2
3.9
1948 1st Quarter
20.5
5.8
5.1
17.4
4.9
4.4
2nd Quarter
20.3
5-1
5.8
15.6
3.9
4.5
3rd Quarter
21.8
5-7
6.2
16.1.
4:2
4.6
4th Quarter
25.5
5-6
6.9
17:6
3.9
4.7
1949 January
26.5
5.9.
5.8
16.7
3.7
3.6
V.-Balance of Payments
23. The gold and dollar deficit in February was again fairly low-£21 million compared with £19 million in January. Expenditure on imports as a whole has not been running significantly below the programme. But drawings by the rest of the sterling area have been comparatively light and Colonial receipts, particu- larly from West African cocoa and Malayan tin, have been heavy and a good deal in excess of earlier forecasts. We paid $7 million to Belgium in February, following $11 million in January. Even so the drain was lower than had been
expected. Much the same applies to Switzerland where, in the two months