Executive Summary Meagre upturn

摘要

Global economic growth improved a little in 2012 Q4 as previous policy easing began to deliver a recovery in China, the debt crisis in Europe improved and a further round of policy stimulus measures improved sentiment in Japan. As a result of the still modest improvement in economic growth, coupled with muted sentiment and ongoing destocking, global apparent consumption of plate fell by a further 5% q/q in 2012 Q4, following a fall of 6% q/q in Q3.