BHP expects tight global markets to continue

.bhp has warned of continued tight labour and energy markets in 2023, and of continued inflation pressures mining resources economy growth exports trade IMARC

PERTH – Diversified miner BHP expected the lag effect of inflationary pressures to remain a persistent challenge through the 2023 financial year.

“So the picture is mixed, labour and energy markets presenting a major challenge, while constraints across broader manufacturing supply chains are easing,” Agar told delegates.He noted that globally, the near-term macro outlook remained very uncertain and fragile, and that Europe and the UK were almost certainly going to experience recession, and headwinds elsewhere were strong.

“While stimulus has produced growth in infrastructure and autos, we expect improvement in the housing sector to take a bit longer. The zero-Covid policy remains an overhang that creates additional uncertainty,” Agar said.

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