Steel Products Prices North America
March 3, 2020
CRU: Global Growth Lowered Due to Covid-19
Written by Jumana Saleheen
By CRU Chief Economist Jumana Saleheen, from CRU’s Steel Sheet Products Market Outlook
Two pieces of news have led us to lower our global forecasts for 2020. First, disruptions caused by the Covid-19 epidemic are expected to lead to a sharp downturn in near-term global growth, followed by a sharp recovery later in the year. Second, weaker than expected industrial production data suggests that the global slowdown which started last year will continue into 2020. At the time of this writing, fears of a global pandemic have increased. Such a scenario would lead to further lowering of our forecasts.
