Global Industry Forecasts - Quarterly Industry Forecasts - Engineering And Metal Goods
Global output of engineering and metal goods is expected to have reached 97% of its prepandemic (Q4 2019) output level in Q3 2020. Following the sharp initial rebound, a more moderate pace of growth should see the sector fully recover by Q3 2021. We expect to see a slower rate of recovery in engineering and metal goods compared to overall industry. This is due to a combination of prolonged uncertainty and weaker financials across downstream sectors who may in the nearterm prefer to rent machinery rather than invest in it directly until the order levels stabilise to prepandemic levels.