CRU on the Economy: Delta Phi Capex

By CRU Principal Economist Alex Tuckett and CRU Chief Economist and Head of Sustainability Jumana Saleheen, from CRU’s Global Economic Outlook

The spread of the Delta variant, plus some disappointing data from the U.S., have led us to slightly revise down our forecast for 2021 GDP growth from 6.1% to 5.9%. Growth in industrial production has been revised from 8.7% to 8.5%. However, this is a case of activity postponed; we have revised up our forecasts for 2022. As well as the Delta variant, this month we also focus on stronger demand from the corporate sector through inventories and fixed investment.