Report
Patrick Artus

Which countries benefit from the shift in the structure of demand from services to goods?

Since the start of 2020, there has been a shift in the structure of demand from services to goods in all OECD countries (due to the digitalisation of the economy, the resulting effects of work from home, etc.). This has led to increased global demand for industrial products. We can then look at which countries have taken advantage of this increase in demand for industrial products to increase their manufacturing production. Other countries, those where manufacturing industry has not benefited from the shift in the structure of demand to goods , have a supply problem (skills unsuited to the needs of industry, poor productive specialisation, insufficient productive investment, excessively high labour costs in industry, taxation that is negative for industry, etc.). In particular, these countries with a supply problem are the euro-zone countries, Japan and Latin America.
Provider
Natixis
Natixis

Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.

 

Analysts
Patrick Artus

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