ON VERGE OF SLUMP
BRITISH SHIPBUILDING
CONTRAST WITH OTHER COUNTRIES
DECLINING TONNAGES
By Telegraph—Press Association —Copyright.
(Received October 13, 9 a.m.) LONDON, October 12.
The condition of the shipbuilding industry has passed beyond the stage politely called a recession and is on the verge of slump, says the "Financial News."
Lloyd's returns for the third quarter of the year show that tonnage under construction is 885,481, compared with 1,037,000 tons in the previous quarter. Moreover, the Clyde received only 30,000 tons of new orders in September. It appears that the tonnage under construction will be only 750,000 at the end of the v.ear, and may be as low as 500,000 in the. middle of 1939.
The slump in Britain contrasts with the expansion in Italy, Germany, Japan, and America, and the steadiness in Scandinavia.
The "Shipping World" declares that the industry is faced "with disaster unless there is speedy Government intervention.
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Bibliographic details
Evening Post, Volume CXXVI, Issue 90, 13 October 1938, Page 9
Word Count
151ON VERGE OF SLUMP Evening Post, Volume CXXVI, Issue 90, 13 October 1938, Page 9
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