NEW YORK (ICIS)–Global durable goods demand should finally pick up in H2 2024 on falling interest rates and inflation, ending the longest such downturn in history, said the CEO of LyondellBasell.
“We expect moderating interest rates, reduced inflation and infrastructure-related stimulus spending will begin to support a gradual return to healthier demand for durable goods during H2,” said LyondellBasell CEO Peter Vanacker on the company’s Q4 earnings call.
Demand for durable goods lagged the overall economy during 2022 and 2023 as markets digested the extraordinary high levels of consumer spending that came with pandemic-era stimulus, he noted.
While LyondellBasell expects 2024 earnings to improve versus 2023, the early part of the year is off to a slow start, and not just for durables.
Published by: www.icis.com
Joseph Chang
02 Feb 2024
