"Between 1948 and the first half of 1953 manufacturing output per head in Britain only rose by some 14 per cent, as against rises of 20 per cent in America and Sweden, 27 per cent in France and the Netherlands, and a staggering 101 per cent rise in Germany (reflecting, naturally, her acceleration from stand-still). Even as early as 1950 Germany had virtually caught Britain up in manufacturing productivity. In fact, such productivity actually fell in Britain by some 3–4 per cent in 1951–2, just at the time when it was rising fastest in Germany. It only regained the 1951 level in 1953."