Economy
October 29, 2020
CRU: Three Key Issues from LME Week
Written by Jumana Saleheen
By CRU Chief Economist Jumana Saleheen and Principal Economist Alex Tuckett, from CRU’s Global Economic Outlook
In this Global Economic Outlook, we reflect on some of the most important risks to the forecast we discussed with clients during LME week. Three issues were foremost: risks to the recovery from the second Covid-19 wave, policy stimulus and recovery in China, and what the U.S. election could mean for the global economy. We continue to expect a “U-shaped” global recovery. We expect world GDP to contract by 4.3% in 2020, before growing by 5.5% in 2021, and world industrial production to contract by 4.7% before growing by 6.2%.
