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Global industry overview: recovery to rotate towards consumer services

We have raised our global sector forecasts again this quarter and maintain a relatively upbeat outlook about the pace of the economic recovery. While recent Covid-related developments confirm that the pandemic is far from over, the economic data have continued to paint a positive picture. We project that the easing of restrictions across much of the world will prompt growth to rotate away from manufacturing, finance, and tech, and towards hard-hit consumer services such as travel and hospitality from Q2 2021.

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.

Sean Metcalfe

Senior Economist

Sean Metcalfe

Senior Economist

Sean Metcalfe |Senior Economist

 

Sean is a Lead Economist on the Industry team, where he forecasts the utilities sector, helps shape the team’s views on the Global Industrial outlook and oversees the climate-related enhancements being made to the Global Industry Model.

Prior to joining Oxford Economics, Sean spent two years working for RBB Economics as a competition economist. At RBB he was involved in the economic assessment of competition cases across a range of industries, including antitrust investigations in the telecommunications sector.

Sean holds an MSc in Economics from the London School of Economics and a BSc in Economics from the University of York.

 

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