FOR IMMEDIATE RELEASE
MONTREAL, QC, November 23, 2020 (Press Release) – Numera’s advance estimates for world manufacturing point towards a significant slowdown in Q4 factory output amid rising infection rates and declining mobility in advanced economies. Our revised estimate for October points to growth of 0.8% MoM (-0.2% YoY), as the recovery likely halted in countries experiencing a ‘second wave’. Our advance estimate for November reveals a 40% chance of contraction this month, with the most likely outcome being factory output slowing to a standstill. This rapid deceleration again reflects weakening activity among countries re-imposing lockdown rules.