The recession of 1973-1975 led to a drastic decline in industrial output in the OECD and EEC, falling from 9.3 and 8.5 percent growth respectively in 1973, to negative growth of -8.3 and -6.1 percent respectively in 1975. The greater range in the OECD's overall growth rate when compared to the European growth rates is largely driven by the fluctuation in Japan's industrial output in these years.

The recession of 1973-1975 saw the annual growth of industrial output plummet in most developed economies. Japan in particular saw its growth fall from highs of almost 16 percent in 1973 to a negative of -10 percent in 1975. Massive industrialization in developed economies in the 1950s and 1960s led to a higher demand for fossil fuels, with growth eventually relying on foreign oil imports from the Middle East. When the Arab OPEC countries placed an embargo on Israel's allies (or perceived allies) during the 1973 Arab-Israeli War, oil prices soared and the western dependency on Arab oil became evident.

Industrial output across the OECD fell by significant amount between the 1960s and 1970s, when annual averages are compared. Overall, the OECD saw industrial output grow by almost six percent in each year between 1960 and 1970, whereas this growth fell to just 3.5 percent per year between 1971 and 1978. The largest individual decline of the major economies was observed in Japan, who saw a difference of nine percent between the two periods. The largest proportional decline of the given countries, however, was observed in Switzerland, where annual industrial output between 1971 and 1978 was less than one tenth of the rate in the previous period. The primary reason for this decline was due to the 1973-1975 recession that resulted from the oil embargo of 1973, which highlighted the developed world's increasing dependency on foreign oil imports. This recession also marked the end of the post-war economic boom, but saw the transition of economies such as Japan, West Germany, and wider European Economic Community in general (i.e. the predecessor to the EU) into global economic powers.

Compared with the other major European powers of the 19th and 20th century, France's industrialization was comparatively slow. In global history, the period between 1815 and 1914 is often referred to as the Pax Britannica; a time where Britain emerged as the leading superpower and relations between the Great Powers was very peaceful, allowing many Western European countries to undergo industrial revolutions. In France, however, the term "industrial revolution" was less applicable, as it remained a fairly agricultural society; transportation infrastructure was poor, and large urban centers made their money through banking, shipping, and artisanal production. It was only during the 1840s, where France's railway network developed, that urbanization and industrialization began to take off, but it still lagged behind Britain, Germany, and Belgium for the remainder of the century. The loss of Alsace-Lorraine to Germany in 1871 significantly hindered France's industrialization, as it was one of the country's richest mining regions. Interwar period France then reclaimed Alsace-Lorraine after the First World War, and occupied two of Germany's most industrious areas during the 1920s; the Rhineland was occupied through the Treaty of Versailles until 1930, and the Ruhr region from 1923 to 1925, when Germany defaulted on its reparation payments. Because of this, industrial output was higher in the 1920s than in the 1930s, where it declined due to the Great Depression, withdrawal from Germany, and then the Second World War. Figures are missing from some years due to German occupation, but in 1944, the year of France's liberation, output was almost a third of its pre-war level. Post-war recovery Within three to four years, French industrial output had returned to a similar level as the 1930s, and this marked the beginning of Les Trente Glorieuses (the glorious thirty). These three decades saw uninterrupted economic growth, and industrial output soared. Using 1963 as a benchmark, industrial output doubled from 1951 to 1963, and tripled from 1951 to 1971. France, along with West Germany, played a key role in European integration in this period, which laid the groundwork for the European Union's formation. Industrial growth then came to a halt in the mid-1970s, due to the 1973-75 Recession, at which point the government put safeguards in place to prevent uncontrolled growth in the future.