Abstract
The manufacturing sector in 1978 continued to grow as fast as the economy, at about 8% according to the quarterly index of industrial production which stood at 132 (1974 = 100) in the second quarter of 1978 as compared to 120 in the second quarter of 1977. It was the continuation of a recovery from the lean year of 1975 when the index was 91 in the second quarter but moved up to 104 a year later. The comprehensive indicator of manufacturing production is given by the annual census of manufacturing and, although the figures there are available only up to 1977, they show the same significant recovery from the slump of 1975 :
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