Category: Manufacturing & Construction
Manufacturing & Construction market research reports by Oxford Economics
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Macro - Country Economic Forecasts - Oman
We've cut our GDP growth forecasts for Oman by 0.1ppt to 2.1% for this year and by 0.2ppts to 2.2% for 2026 to account for the adverse effect of US tariffs announced in April on global demand. The oil price drop triggered by the faster unwinding of oil supply cuts by OPEC+ and energy demand conc ... Read More
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Macro - Country Economic Forecasts - United States
We've slightly increased our GDP growth forecasts for the US by 0.1ppt to 1.3% in 2025 and to 1.7% in 2026. The economy will still grow noticeably below its potential growth rate as it digests tariffs, supply-chain stress, tighter financial market conditions, and surging policy uncertainty. Rece ... Read More
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Macro - Weekly Briefings - Eurozone
Germany's industrial production rebounded strongly in March, making quarterly growth positive for the first time in two years. The fact that growth was broad-based is good news. But as this largely reflects the front-loading of purchases in the US ahead of the tariffs, with particularly strong r ... Read More
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Analysis by Region - Emerging Markets - Nigeria
Global oil prices have come under renewed pressure following the recent decision by Opec+ to accelerate oil output increases in June. We think bearish conditions will persist and oil prices should recover gradually over the medium term. We maintain our view that Nigeria's overall real GDP growth ... Read More
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Macro - Weekly Briefings - Eurozone
Eurozone GDP rose 0.4% q/q in Q1, beating our and consensus expectations for unchanged growth of around 0.2% q/q. Initial country-level figures also pointed to a broad-based expansion, but the report exaggerates both the extent of the improvement in Q1 and actual growth itself. ... Read More
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Analysis by Region - Asia Pacific - South Korea
We downgraded our 2025 growth forecast to 0.7% y/y after last week's Q1 GDP numbers, though this will only be reflected in May's base release. Economic activity was weak, at -0.1% y/y and -0.2% q/q sa, dragged down by exports and investment. We expect both to remain weak for the rest of 2025 ... Read More
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Macro - Weekly Briefings - Eurozone
Policy announcements in the US continue to dictate economic sentiment in Europe. News this week has been mildly encouraging, with the White House's softer stance leading to large gains in stock markets. Moreover, economic indicators don't yet reflect a large hit from the tariff threat. ... Read More
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Macro - Weekly Briefings - Eurozone
The flurry of recent tariff announcements and reversals from the US has continued to affect leading indicators in the Eurozone, with the ZEW sinking this week at a rate consistent with large crises. Together with abysmal soft data from the US, this highlights the corrosive impact of policy uncertain ... Read More
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Macro - Country Economic Forecasts - United States
We’ve lowered our 2025 GDP growth forecast for the US by 0.8ppts to 1.2%. However, this paints a brighter picture of how the economy will fare this year because this figure is flattered by a favorable base effect. We forecast average annualized GDP growth this year will be 0.5%, leaving the economy ... Read More
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Macro - Weekly Briefings - Eurozone
US President Donald Trump has paused country-specific tariffs above 10% for 90 days, which is welcome news for the EU given it had been slapped with a 20% tariff. But an effective tariff rate of 12% and possibly more if pharmaceutical products are added to the US tariff net represents a substantial ... Read More
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Analysis by Region - Emerging Markets - Nigeria
Financial markets are still reeling from President Donald Trump's bold tariff move last week. Commodity prices too have come under immense pressure. Although we think the global economy is likely to skirt a recession, a slowdown will strain oil demand while the recent decision by Opec+ to bring ... Read More
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Macro - Country Economic Forecasts - Lebanon
We’ve become more optimistic that Lebanon's economy will return to expansion this year and have raised our 2025 GDP growth forecast by 0.6ppts to 1.4%. The election of Joseph Aoun as the new president in January and the formation of a new government after nearly three years under an interim admi ... Read More
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Industry - Country Industry Forecasts - South Korea
South Korean industrial growth is forecast to grow 2% this year. The electronics and high-tech sector will be the principal driver of industrial growth, underscored by a strong export market for Korean electronics. ... Read More
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Industry - Country Industry Forecasts - France
While the overall trend of industrial production has remained relatively flat since the initial recovery from the Covid-19 pandemic, we expect this year to see a broad decline in industrial output this year. GDP growth forecast has also been lowered to 0.5% for 2025 as global trade uncertainty weigh ... Read More
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Industry - Country Industry Forecasts - Canada
We now expect industrial value-added output in Canada to contract by 1.5% in 2025. The US-Canada trade war is likely to plunge Canada’s economy into a deep recession that will continue into 2026. We expect a 25% tariff on nearly all imports of goods from Canada to take effect in April. ... Read More
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Macro - Weekly Briefings - Eurozone
In a historic move, both houses of the German parliament voted in favour of reforming the country's constitutional debt brake and enacting a large fiscal stimulus. It's hard to overstate its significance. A long-running problem in the Eurozone has been insufficient demand with only Germany h ... Read More
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Analysis by Region - Asia Pacific - South Korea
We've nudged down our 2025 GDP growth forecast for South Korea by 0.3ppts to 1.3% y/y. High-frequency indicators haven't bounced back as much as we had expected after the earlier Lunar New Year season. By component, we mainly revised real exports and investment downward. We expect Q1 growth ... Read More
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Industry - Global Industry Forecasts - Chemicals
Our global outlook for the sector remains positive as we expect production to expand 2.7% in 2025 and 2.7% in 2026. Gas prices are stabilising and destocking has run its course which is easing pressure off producers. However, we expect trade frictions from Trump's tariffs to weigh on the sector ... Read More
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Macro - Weekly Briefings - Eurozone
Strong Sentix results suggest investors support European and German plans to increase defence and infrastructure spending significantly. Germany's fiscal 'bazooka' needs a deal with the Greens to pass a key vote. We think that can still be reached, but it will require quick progress. ... Read More
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Macro - Country Economic Forecasts - United States
We cut our 2025 GDP growth forecast for the US by 0.4ppts to 2% to reflect the weaker start to the year, adjustments to our tariff assumptions, and the relentless policy uncertainty. We raised our forecast for the unemployment rate due to the large reduction in federal employment. ... Read More
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Analysis by Region - Emerging Markets - Nigeria
Nigeria’s fortunes appear to be turning around. In the final quarter of 2024, seasonally adjusted real GDP growth reached 4.4% y/y, the highest growth rate since Q3 2021 (4.5% y/y). The non-oil economy drove the national growth increase, while the oil sector expanded at a slower pace. We remain caut ... Read More
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Macro - Weekly Briefings - Eurozone
Two events this week could result in a significant shift in Europe's fiscal policy. First, European Commission President Ursula von der Leyen on Tuesday announced the 'ReArm Europe' plan, aimed at increasing EU security spending. Second, the two German parties that will very likely form ... Read More
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Macro - Weekly Briefings - Eurozone
Flash PMIs for February showed a divergence between Germany, where activity improved, and France, which fell deeper into contraction territory. The Eurozone composite PMI was unchanged – near stagnation. We revised down our forecasts for industrial production, as Europe finds itself squeezed between ... Read More
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Macro - Country Economic Forecasts - Oman
We forecast Oman's GDP growth at 2.2% for this year, higher than the 1.5% estimate for 2024. In our 2025 growth outlook, we balance the delayed return to growth in the energy sector with a steady expansion of non-energy output, which we project at 3.0% (up from 2.8% previously). We think activit ... Read More
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Analysis by Region - Emerging Markets - Nigeria
We are cautiously optimistic that Nigeria will enjoy a more favourable macroeconomic climate this year. Real GDP growth is projected to increase marginally to 3.1% this year from an estimated 3.0% in 2024 while remaining relatively flat over the medium term. The non-oil economy will be a growth driv ... Read More
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