Global Economic Analysis and News of Note
- According to the World Steel Association, global production of raw steel fell 2.7 percent from March 2014 to March 2015. Steel production in the first quarter of 2015 was down 1.8 percent from the first quarter of 2014. The association expects production to rise just 0.5 percent this year and blamed a softening Chinese economy, lower oil prices and an “uneven” European economic recovery for the drop off in production so far. Steel production in China dropped 1.2 percent from March 2014 to March 2015 and 1.7 percent between the first quarter of 2014 and the first quarter of 2015.