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Productivity

MANUFACTURING OUTPUT 2019-2023

World China European Union

France Germany United Kingdom United States

2022 2023

Sources : FourJaw Manufacturing Analytics , WorldBank , Eurostat , UK Office of National Statistics , US Bureau of Economic Analysis , State Council of the People ’ s Republic of China , Performance indexed to 2019 levels .

Global output is 15 percent higher than pre-Covid , but growth has stalled

Unsurprisingly , productivity declined by three percent worldwide in 2020 , before rebounding with an 18 percent growth surge in 2021 . Since then , output has remained flat , increasing just one percent in 2022 , as pent-up demand gave way to issues including chip shortages , labor issues , shipping disruptions , natural disasters , and war in Ukraine . Global manufacturing ’ s net output is now $ 16.19 trillion , 15 percent more than in 2019 . manufacturing-today . com 23