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
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