Industrial production and national debt 1980 - 2022

Great Britain's industrial production above 2006 level only in 2022

Update May 15th, 2023 - The upward movement of industrial production stopped in 2006 (108,2 index points). Only 16 years later in 2022, industrial production exceeded the 2006 level at 112.1 index points.

 

So the three structural changes in the course of the industrial production ("The structural changes in the course of the industrial production") have deepened, forcing Great Britain's industrial production for sixteen years into a mixture of crisis and slow growth.

Declining industrial production, soaring national debt

As in Japan a stagnating or declining industrial production is combined with soaring national debt.

In 2006 the galloping national debt started along the beginning permanent crisis of industrial production. Within fourteen years national debt doubled from 51% (2208) to 101% (2022) of the Gross National Product.

Galloping private debt

The private sector includes enterprises excluding banks, households and non-profit institutions. This corporate and private debt amounted to 155% of Gross Domestic Product in 2022.

Shortly before and during the global economic crisis, this debt ratio reached 183% of GDP.

Credit or debt means buying goods and services today and paying later from the value added, i.e. income and profit. However, industrial production as an essential factor of value creation is shrinking.

This means that there is a trend towards declining value added and exploding debt. "Sooner or later, the prospects for this situation will lead to an even deeper global economic crisis", stated the UK Report for 2019 in this magazine.