Steel Industy: Outlook and Challenges

Friday, October 16 2020

With the advent of Covid-19 around the world, the view on the global economies became grim and rapidly saw a decline in the growth estimates world over. The mid-year World Economic Situation and Prospects (WESP) report1 , prepared by the UN Department of Economic and Social Affairs, estimates Global GDP to shrink by 3.2 per cent in CY2020. While the developed economies expected to see a contraction of 5% in growth, developing economies are estimated to contract by 0.7%.2

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