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2017 prediction 2 – oil producing countries back on tap or sales growth

Figure 2A – regional growth in constant and current currency – 2014-2018

2017-02a

Source: ITCandor, 2017

There will continue to be a disparity between growth in local and constant $ terms (especially in Asia Pacific) due to currency fluctuations (see Figure), although I expect those to be somewhat less than in recent years.

Figure 2B – local and regional forecast

2017-02b

Source: ITCandor, 2017

The Americas will continue to be the largest consumer of ITC, spending a total of $2.4T in 2017 compared with $2.0T in Asia Pacific and $1.82T in EMEA.

I expect Japan to lead and Russia to continue to lag in terms of annual spending growth – see Figure 2A, where I’ve highlighted the sub-regional totals in red.

My second prediction is that ITC spending growth will improve significantly in oil producing countries, as oil production is restricted, raising prices.

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