Quarterly Industry Forecast Reports from Oxford Economics Now Available

Quarterly industry forecast reports from Oxford Economics have been updated on NFPA’s member hub. Some quick insights include:

  • US industrial activity is expected to decelerate to 1.4% in 2024, down from 1.9% in 2023. Construction in the US is expected to harbor growth this year as value-added output growth is predicted to accelerate to 4.4%.
  • China’s 2024 growth forecast for production of electronics and computers has risen to 6.2% from a previous 3% expected growth. China’s ‘New Three’ green industries seen in the chart below, are referenced as a contributor to this expected growth along with improvements in China’s domestic chipmaking capabilities.
  • Global hybrid and electric light vehicles sales as a share of total new sales are projected to reach 36% in 2024 and 59% by 2030, up from 10% in 2020.

Oxford Economics produces quarterly forecast reports for 10+ industries. These reports highlight forecast drivers and constraints with upside and downside scenario outlooks. Industries covered include Construction, Motor Vehicles, Extraction, Electronics and Computers, and more. These reports additionally apply the industry forecasts to a handful of major market countries, such as Germany, United States, United Kingdom, China, Japan, and several others. 

To access the latest industry forecasts, click https://nfpahub.com/stats/reports-data/global-market-reports-forecasts/industry-forecasts/and go to “Global Industry Forecasts”. Information about the Chinese “New Three” industries can be in the Industry Forecasts Overview and the Electronics and Computers reports.

For any questions, please contact Cecilia Bart at cbart@nfpa.com.

Recent Posts

All You Want to Know About AI and Its Applications for Your Organization

By Mike MarksIndian River Consulting Group Buzz, hype, mania — we’re surrounded by the topic of AI. The use of generative artificial intelligence tools has exploded since the launch of ChatGPT in late 2022. These tools range from writing to voice, art and video generators. Enterprising companies are creating tools to service industry niches with…

Read More about All You Want to Know About AI and Its Applications for Your Organization

NAM Regulatory Update: Manufacturer to Congress | Support the American Dream

As part of an effort to bring more information about the regulatory and legal environment facing American manufacturers, NFPA is monitoring the newsfeed of the National Association of Manufacturers (NAM) and will be bringing important updates like this to the attention of NFPA members. As mentioned in this article, Husco is a long time NFPA…

Read More about NAM Regulatory Update: Manufacturer to Congress | Support the American Dream

NFPA Welcomes New Member: Firestone Airide

Firestone Airide, a division of Firestone Industrial Products headquartered in Nashville, Tennessee, drives innovative technology designed to eliminate vibration in global transportation. Firestone has over 80 years of experience designing and manufacturing air springs and related products to eliminate vibration across the automotive, heavy-duty, and off-highway segments and will collaboratively integrate tire and air spring sensing technologies to create…

Read More about NFPA Welcomes New Member: Firestone Airide