Oxford’s Monthly Industry Briefings

Oxford’s Monthly Industry Briefings for November have been released and are available on the website. These reports contain the latest developments for eleven major industries around the globe with short industry briefs provided by Oxford Economics. These two-to-three-page briefs include a short-written summary, output/trend graphs, and an output table. 

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Basic Metals 

• The US is expected to impose blanket tariffs on Chinese exports next year, as well as Japan, South Korea, and Vietnam. Due to US’s high import dependency and fiscal spending, steel prices are forecasted to rise in H1 2025 and to be over 17% higher than Oxford’s steel forecast prior to the election.   

Construction:  

• US housing starts dropped by 3.1% m/m in October. Single family units pulled the sector down, dropping 6.9%, while multi-family units expanded 9.7%.  

• The Chinese real estate climate index continued to improve in October, reaching 92.49. However, other construction indicators remain in contractionary territory and are expected to post double-digit contractions in year-on-year terms.  

Electronics and Computers: 

• Oxford writes in regard to electronics production, “Data over end-Q3 and early-Q4 suggest momentum peaking out in Asia, depressed production in Europe, and continued resilience in the US.” 

Engineering and Metal Goods:  

• When examining longer-term cyclical perspectives in US output, the mechanical engineering sector appears to be bottoming out while the electrical equipment sector has seen remarkable expansion over the past few months. Overall, Oxford projects the engineering sector is on the verge of a recovery next year.  

These reports and more are available to all NFPA member on the member hub. Questions? Contact Cecilia Bart at cbart@nfpa.com or 414-259-2027.