What happened to industry in 2019 globally, in OECD countries and in the euro zone?
In 2019, there was a drastic fall in industrial activity globally, in the OECD and in the euro zone, with the low point in the third quarter. What happened? What caused this industrial recession? First, we examine the different industrial sectors; We then examine the different components of demand for industrial products: corporate investment, household durable goods purchases, construction (which includes purchases of metals, other intermediate goods, etc.). We then see a difference between the world on the one hand and the OECD and the euro zone on the other. The fall in industrial activity: Affected all sectors of activity globally; Was more concentrated (automotive, intermediate goods and capital goods for the automotive and construction sectors) in the OECD and the euro zone.