FOR IMMEDIATE RELEASE
MONTREAL, QC, August 2, 2021 (Press Release) – Numera today released the latest update of its Global Industrial Tracker, which points to growth slowing into the second half.
Industrial production contracted 0.7% in May, primarily owing to substitution away from goods and towards contact services. In addition, demand for capital goods has started to weaken given an already very high investment share of GDP. High-frequency data points to a partial recovery in June and July, partly on the back of a ~6% increase in crude oil production in OPEC+ countries.
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