THE WORST PASSED

Manawatu Standard, Volume LIII, Issue 251, 20 September 1933, Page 7

THE WORST PASSED

DEPRESSION’S LOW TROUGH. LEAGUE OF NATIONS REVIEW. UPWARD TENDENCY EVIDENT. (United Press Association —By Electric Telegraph.—Copyright.) (British Official Wireless.) Received September 20, 8.10 a.m. RUGBY, Sept. 18. The latest League of Nations review on world production and prices states that there are encouraging signs that the low point of the world economic depression was passed about the middle of 1932 and that, in spite of a partial setback in some countries in the first quarter of 1933, industrial production in general is showing an upward tendency. The review, which carefully analyses the features of the industrial depression since 1929, says the volume of world trade as a whole fell between that year and 1933 by about 27 per cent. * Referring to individual industries, the review states that the decline in the automobile industry was more severe in North America than, in Europe, which increased its share in world production from 11 per cent, in 1929 to 27 per cent, in 1932. It adds that Britain has replaced France as the leading European producer, and in 1932 attained a record output.