Table I Long-term fluctuations in the... | Emerald Publishing

Table I

Long-term fluctuations in the growth rate of industrial production in major capitalist countries (from mid-nineteenth century to the 1970s)

	UK		USA		Germany^a		France		Italy
The second economic long wave
The upward stage	1845–1873	3.0	1864–1873	6.2	1850–1872	4.3	1847–1872	1.7
The downward stage	1873–1890	1.7	1873–1895	4.7	1872–1890	2.9	1872–1890	1.3	1873–1890	0.9
The third economic long wave
The upward stage	1890–1913 1920–1929	2.0 2.8	1895–1913 1920–1929	5.3 4.8	1895–1913 1920–1929	4.1	1890–1913 1920–1929	2.5 8.1	1890–1913 1920–1929	3.0 4.8
The downward stage	1929–1948	2.1	1929–1948	3.1	1929–1948		1929–1948	−0.9	1929–1948	0.5
The fourth economic long wave
The upward stage	1948–1973	3.2	1948–1973	4.7	1948–1973	9.1	1948–1973	6.1	1948–1973	7.9

	UK		USA		Germany^a		France		Italy
The second economic long wave
The upward stage	1845–1873	3.0	1864–1873	6.2	1850–1872	4.3	1847–1872	1.7
The downward stage	1873–1890	1.7	1873–1895	4.7	1872–1890	2.9	1872–1890	1.3	1873–1890	0.9
The third economic long wave
The upward stage	1890–19131920–1929	2.02.8	1895–19131920–1929	5.34.8	1895–19131920–1929	4.1	1890–19131920–1929	2.58.1	1890–19131920–1929	3.04.8
The downward stage	1929–1948	2.1	1929–1948	3.1	1929–1948		1929–1948	−0.9	1929–1948	0.5
The fourth economic long wave
The upward stage	1948–1973	3.2	1948–1973	4.7	1948–1973	9.1	1948–1973	6.1	1948–1973	7.9

Note: ^a1948–1973: W. Germany