Via Credit Suisse:
Consistent with our message in recent months, we expect barely positive global industrial production (IP) growth between October and February. This is a sharp deceleration following the extraordinary summertime bounce from the spring’s shutdowns.
We forecast global IP momentum (3m/3m annualized growth) to bottom in January or February at a level in line with past non-recessionary troughs such as in the 2019 trade war, the 2015 energy slump, and the 2012 euro crisis.
