Minerals And The International And National Economy - Production

No noticeable international economic recovery occurred during the first half of 1982. Industrial production continued to fall in the United States, Canada and Italy and to hold steady in France. Modest increases in production occurred in Japan, England and Germany, although some decline took place from March to April. The U.S. mining industry has been more severely affected by the world recession than the U.S. economy. This is not immediately obvious when comparing the U.S. mining industrial production index from 1981 to 1982, which decreased 8.5 percent, as compared to a 7.1 percent decline for total domestic industries. However, "mining" industry statistics in the U.S. national economic accounting system include petroleum and natural gas as well as minerals. When metal mining is isolated, the decrease in production from 1981 to 1982 is 19.3 percent. If metal mining production continues to perform at the same rate during the third and fourth quarters of 1982 as during the first half of the year, declines from 1981 levels will be quite severe. Aluminum will have declined 22 percent, copper 18 percent, iron ore 24 percent, lead 3 percent, steel 29 percent, titanium 2 percent and zinc 25 percent.