Market Data
October 11, 2020
CRU: U.S. Recovery to Shift Down a Gear
Written by Anissa Chabib
By CRU Economist Anissa Chabib, from CRU’s Global Steel Trade Service
2020 has seen an unusual recession that was brought on by a pandemic. To match this, the shape of the recovery is likely to be equally unusual. The U.S. recovery is starting to lose momentum, with more slowing to come in 2021. Large uncertainties lie ahead that could derail the recovery, the path of the virus and the outcome of the U.S. election. The good news is that metal end-use sectors have fared relatively well—residential construction has remained resilient, and auto demand is returning quickly. Prospects for the non-residential sector, however, look weaker than the residential sector.
