Global industry outlook: supply chain bottlenecks cloud near-term prospects, but underlying demand is strong

Topic: Global industrial activity has recovered strongly from the pandemic thus far. However, the recovery has encountered headwinds from material and component shortages as well as transportation bottlenecks, with several sectors not able to increase production fast enough to accommodate the strong rebound in demand. Downside risks to our forecast have also risen since our previous forecast update. The Delta variant is the key concern, but businesses also cite higher inflation as a major risk to the global recovery.

Jeremy Leonard

Director of Global Industry Services

Jeremy Leonard

Director of Global Industry Services

Jeremy Leonard |Director of Global Industry Services

Jeremy Leonard is responsible for overseeing the work of the industry forecasting team and managing the operation and output of Oxford Economics’ 74-country, 100-sector Global Industry Model as well as related consultancy work. Jeremy’s knowledge and past experience span a broad range, including competitiveness and offshoring/reshoring, commodity price modelling, and applied economic research on sectors ranging from biotech to heavy manufacturing to telecoms.

Max Anderson

Economist

Max Anderson

Economist

Max Anderson | Economist

Max first joined Oxford Economics in 2016 during a year a placement year that formed part of his undergraduate degree. He worked for the Industry team for over a year, forecasting numerous manufacturing subsectors and carrying out bespoke project work. He then returned to the University of Leicester, where he continued his studies and achieved a first-class degree in Economics. Max re-joined Oxford Economics in July 2019 and is now responsible for forecasting the Information & Communication sector, carrying out bespoke research and overseeing the quarterly update of the Global Industry Model.

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