Byline: Sam Diedrich
The quarterly by-country forecasts from Oxford Economics have been updated on NFPA’s member hub. See the latest outlooks for over 60 different countries. Highlights from the latest reports include:
- US: “Manufacturing output is expected to contract 0.9% in 2023, driven by a decline in the high-tech goods sector. In 2024, manufacturing output is forecast at -1.3% growth, driven by a decline in the metal products nec sector.”
- Eurozone: “Whilst European gas prices have fallen from their peak and supply chain bottlenecks have eased, we expect industrial production to grow by only 0.9% in 2023 as tighter monetary policy and high inflation subdue consumer demand and reduce the willingness of companies to purchase capital equipment.”
- China: “Chinese industrial activity has consistently disappointed so far this year. While Q1 saw growth of 2.9%, activity has been underperforming market expectations. Most of the boost to growth from re-opening has been felt in sectors like retail trade and transportation, and accommodation & food services that have a direct link to the domestic end-consumer.”
Download these reports and more from Oxford Economics with your NFPA member login: https://nfpahub.com/stats/reports-data/global-market-reports-forecasts/
Questions? Contact Sam Diedrich at sdiedrich@nfpa.com or 414-778-3372
Like this post? Share it!
Recent Posts
Mark Your Calendar: Join Us on November 15 for an Economic Update with ITR Economics – Register Today!
Registration is now open for the November 15th Economic Update Event featuring Patrick Luce of ITR Economics. The event will take place virtually. In addition to macroeconomic trends and updates, Patrick will speak on important end use markets for fluid power and updated hydraulic and pneumatic forecasts. Check out the latest fluid power forecast report…
New Forecasts from Oxford Economics: Updates on the UAW Strike
Quarterly country and industry forecast reports from Oxford Economics have been updated on NFPA’s member hub. Insights include impacts of the UAW strike on the motor vehicle industry and updates on China’s industrial production. Oxford Economics produces quarterly forecast reports for over 60 countries and 10+ industries. These reports highlight forecast drivers and constraints with…
Innovative Pump Technology Expands to Medical Industry – Fluid Power Forum Episode 109 Now Live
This episode features Greg Shtrahman of Marzocchi Pumps USA. Listen to the Podcast Here Greg is a Business Development Manager at Marzocchi Pumps, a company that designs, manufactures, and sells external gear pumps and motors for high performance applications. We spoke with Marzocchi’s president in a previous episode about their low-noise gear pumps for automotive…