Economy
January 4, 2023
Written by Josh Spoores
At the start of each year, CRU continues to feature top expectations and outliers for the year ahead. This annual list of expectations is a thought piece, meant to stimulate internal discussions, scenario analysis, and strategic planning around potential risks to the markets we cover. This 2023 edition covers six expectations and three potential outliers.
Last Year’s Expectations
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To kick off the official sessions of the 2023 Steel Summit, Dr. Anirban Basu, chairman and CEO of the Sage Policy Group, focused on the broader context in which steel prices are set, outlining major factors currently shaping economic outcomes in our country.
Mexico has decided to implement import tariffs on a number of products, among them, steel.
As mortgage rates continue to rise and housing demand slows, builder confidence is waning. A drop in July housing starts was the first in seven months.
Economic activity in the US manufacturing sector contracted for the ninth month in a row in July, according to the latest report on business from the Institute for Supply Management (ISM).