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2019 steel market to suffer from GDP growth slowdown: OECD

2019 steel market to suffer from GDP growth slowdown: OECD (April 2, 2019)

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The Organisation for Economic Co-operation and Development steel committee has produced a generally downbeat outlook for the global steel sector following its 86th session on 25-26 March. In a chair’s statement issued following the meeting, vice chairman Jai Motwane said that the outlook for steel markets faces considerable downside risks. OECD global GDP growth forecasts “... were revised downward, to 3.3% for 2019 and 3.4% for 2020. Downside risks include a further increase in trade frictions, high economic policy uncertainty, and a further erosion of business and consumer confidence,” the statement reads.

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