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Global In-flight Autopilot Systems Industry
Global In-flight Autopilot Systems Market to Reach $9. 9 Billion by 2027. Amid the COVID-19 crisis, the global market for In-flight Autopilot Systems estimated at US$7. 3 Billion in the year 2020, is projected to reach a revised size of US$9.New York, Nov. 12, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global In-flight Autopilot Systems Industry” – https://www.reportlinker.com/p05960996/?utm_source=GNW 9 Billion by 2027, growing at a CAGR of 4.4% over the analysis period 2020-2027. Flight Director System, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$3.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Altitude and Heading Reference System segment is readjusted to a revised 3.8% CAGR for the next 7-year period. The U.S. Market is Estimated at $2.2 Billion, While China is Forecast to Grow at 4.1% CAGR The In-flight Autopilot Systems market in the U.S. is estimated at US$2.2 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2027 trailing a CAGR of 4.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. Avionics System Segment to Record 4% CAGR In the global Avionics System segment, USA, Canada, Japan, China and Europe will drive the 4.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.1 Billion in the year 2020 will reach a projected size of US$1.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.1 Billion by the year 2027.We bring years of research experience to this 7th edition of our report. The 230-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed. Competitors identified in this market include, among others, * Cloud Cap Technology, Inc. * Esterline Technologies Corporation * Garmin Ltd. * General Electric Company * Genesys Aerosystems * Honeywell International, Inc. * Lockheed Martin Corporation * Lufthansa Systems GmbH & Co. KG * MicroPilot Inc. * Rockwell Collins, Inc. Read the full report: https://www.reportlinker.com/p05960996/?utm_source=GNW I. INTRODUCTION, METHODOLOGY & REPORT SCOPE II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW Global Competitor Market Shares In-flight Autopilot Systems Competitor Market Share Scenario Worldwide (in %): 2019 & 2025 Impact of Covid-19 and a Looming Global Recession 2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS 4. GLOBAL MARKET PERSPECTIVE Table 1: In-flight Autopilot Systems Global Market Estimates and Forecasts in US$ Million by Region/Country: 2020-2027 Table 2: In-flight Autopilot Systems Global Retrospective Market Scenario in US$ Million by Region/Country: 2012-2019 Table 3: In-flight Autopilot Systems Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027 Table 4: Flight Director System (System Type) World Market by Region/Country in US$ Million: 2020 to 2027 Table 5: Flight Director System (System Type) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019 Table 6: Flight Director System (System Type) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027 Table 7: Altitude and Heading Reference System (System Type) Potential Growth Markets Worldwide in US$ Million: 2020 to 2027 Table 8: Altitude and Heading Reference System (System Type) Historic Market Perspective by Region/Country in US$ Million: 2012 to 2019 Table 9: Altitude and Heading Reference System (System Type) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027 Table 10: Avionics System (System Type) Geographic Market Spread Worldwide in US$ Million: 2020 to 2027 Table 11: Avionics System (System Type) Region Wise Breakdown of Global Historic Demand in US$ Million: 2012 to 2019 Table 12: Avionics System (System Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027 Table 13: Flight Control System (System Type) World Market Estimates and Forecasts by Region/Country in US$ Million: 2020 to 2027 Table 14: Flight Control System (System Type) Market Historic Review by Region/Country in US$ Million: 2012 to 2019 Table 15: Flight Control System (System Type) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027 Table 16: Other System Types (System Type) World Market by Region/Country in US$ Million: 2020 to 2027 Table 17: Other System Types (System Type) Historic Market Analysis by Region/Country in US$ Million: 2012 to 2019 Table 18: Other System Types (System Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027 Table 19: Rotary Wings Aircraft (Aircraft Type) World Market Estimates and Forecasts in US$ Million by Region/Country: 2020 to 2027 Table 20: Rotary Wings Aircraft (Aircraft Type) Market Worldwide Historic Review by Region/Country in US$ Million: 2012 to 2019 Table 21: Rotary Wings Aircraft (Aircraft Type) Market Percentage Share Distribution by Region/Country: 2012 VS 2020 VS 2027 Table 22: Fixed-Wing Aircraft (Aircraft Type) Market Opportunity Analysis Worldwide in US$ Million by Region/Country: 2020 to 2027 Table 23: Fixed-Wing Aircraft (Aircraft Type) Global Historic Demand in US$ Million by Region/Country: 2012 to 2019 Table 24: Fixed-Wing Aircraft (Aircraft Type) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027 Table 25: Commercial Aircrafts (Application) Worldwide Sales in US$ Million by Region/Country: 2020-2027 Table 26: Commercial Aircrafts (Application) Historic Demand Patterns in US$ Million by Region/Country: 2012-2019 Table 27: Commercial Aircrafts (Application) Market Share Shift across Key Geographies: 2012 VS 2020 VS 2027 Table 28: Military Aircrafts (Application) Global Market Estimates & Forecasts in US$ Million by Region/Country: 2020-2027 Table 29: Military Aircrafts (Application) Retrospective Demand Analysis in US$ Million by Region/Country: 2012-2019 Table 30: Military Aircrafts (Application) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027 Table 31: Civilian Aircrafts (Application) Demand Potential Worldwide in US$ Million by Region/Country: 2020-2027 Table 32: Civilian Aircrafts (Application) Historic Sales Analysis in US$ Million by Region/Country: 2012-2019 Table 33: Civilian Aircrafts (Application) Share Breakdown Review by Region/Country: 2012 VS 2020 VS 2027 III. MARKET ANALYSIS GEOGRAPHIC MARKET ANALYSIS UNITED STATES Market Facts & Figures US In-flight Autopilot Systems Market Share (in %) by Company: 2019 & 2025 Market Analytics Table 34: United States In-flight Autopilot Systems Market Estimates and Projections in US$ Million by System Type: 2020 to 2027 Table 35: In-flight Autopilot Systems Market in the United States by System Type: A Historic Review in US$ Million for 2012-2019 Table 36: United States In-flight Autopilot Systems Market Share Breakdown by System Type: 2012 VS 2020 VS 2027 Table 37: United States In-flight Autopilot Systems Market Estimates and Projections in US$ Million by Aircraft Type: 2020 to 2027 Table 38: In-flight Autopilot Systems Market in the United States by Aircraft Type: A Historic Review in US$ Million for 2012-2019 Table 39: United States In-flight Autopilot Systems Market Share Breakdown by Aircraft Type: 2012 VS 2020 VS 2027 Table 40: United States In-flight Autopilot Systems Latent Demand Forecasts in US$ Million by Application: 2020 to 2027 Table 41: In-flight Autopilot Systems Historic Demand Patterns in the United States by Application in US$ Million for 2012-2019 Table 42: In-flight Autopilot Systems Market Share Breakdown in the United States by Application: 2012 VS 2020 VS 2027 CANADA Table 43: Canadian In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by System Type: 2020 to 2027 Table 44: Canadian In-flight Autopilot Systems Historic Market Review by System Type in US$ Million: 2012-2019 Table 45: In-flight Autopilot Systems Market in Canada: Percentage Share Breakdown of Sales by System Type for 2012, 2020, and 2027 Table 46: Canadian In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by Aircraft Type: 2020 to 2027 Table 47: Canadian In-flight Autopilot Systems Historic Market Review by Aircraft Type in US$ Million: 2012-2019 Table 48: In-flight Autopilot Systems Market in Canada: Percentage Share Breakdown of Sales by Aircraft Type for 2012, 2020, and 2027 Table 49: Canadian In-flight Autopilot Systems Market Quantitative Demand Analysis in US$ Million by Application: 2020 to 2027 Table 50: In-flight Autopilot Systems Market in Canada: Summarization of Historic Demand Patterns in US$ Million by Application for 2012-2019 Table 51: Canadian In-flight Autopilot Systems Market Share Analysis by Application: 2012 VS 2020 VS 2027 JAPAN Table 52: Japanese Market for In-flight Autopilot Systems: Annual Sales Estimates and Projections in US$ Million by System Type for the Period 2020-2027 Table 53: In-flight Autopilot Systems Market in Japan: Historic Sales Analysis in US$ Million by System Type for the Period 2012-2019 Table 54: Japanese In-flight Autopilot Systems Market Share Analysis by System Type: 2012 VS 2020 VS 2027 Table 55: Japanese Market for In-flight Autopilot Systems: Annual Sales Estimates and Projections in US$ Million by Aircraft Type for the Period 2020-2027 Table 56: In-flight Autopilot Systems Market in Japan: Historic Sales Analysis in US$ Million by Aircraft Type for the Period 2012-2019 Table 57: Japanese In-flight Autopilot Systems Market Share Analysis by Aircraft Type: 2012 VS 2020 VS 2027 Table 58: Japanese Demand Estimates and Forecasts for In-flight Autopilot Systems in US$ Million by Application: 2020 to 2027 Table 59: Japanese In-flight Autopilot Systems Market in US$ Million by Application: 2012-2019 Table 60: In-flight Autopilot Systems Market Share Shift in Japan by Application: 2012 VS 2020 VS 2027 CHINA Table 61: Chinese In-flight Autopilot Systems Market Growth Prospects in US$ Million by System Type for the Period 2020-2027 Table 62: In-flight Autopilot Systems Historic Market Analysis in China in US$ Million by System Type: 2012-2019 Table 63: Chinese In-flight Autopilot Systems Market by System Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 64: Chinese In-flight Autopilot Systems Market Growth Prospects in US$ Million by Aircraft Type for the Period 2020-2027 Table 65: In-flight Autopilot Systems Historic Market Analysis in China in US$ Million by Aircraft Type: 2012-2019 Table 66: Chinese In-flight Autopilot Systems Market by Aircraft Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 67: Chinese Demand for In-flight Autopilot Systems in US$ Million by Application: 2020 to 2027 Table 68: In-flight Autopilot Systems Market Review in China in US$ Million by Application: 2012-2019 Table 69: Chinese In-flight Autopilot Systems Market Share Breakdown by Application: 2012 VS 2020 VS 2027 EUROPE Market Facts & Figures European In-flight Autopilot Systems Market: Competitor Market Share Scenario (in %) for 2019 & 2025 Market Analytics Table 70: European In-flight Autopilot Systems Market Demand Scenario in US$ Million by Region/Country: 2020-2027 Table 71: In-flight Autopilot Systems Market in Europe: A Historic Market Perspective in US$ Million by Region/Country for the Period 2012-2019 Table 72: European In-flight Autopilot Systems Market Share Shift by Region/Country: 2012 VS 2020 VS 2027 Table 73: European In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by System Type: 2020-2027 Table 74: In-flight Autopilot Systems Market in Europe in US$ Million by System Type: A Historic Review for the Period 2012-2019 Table 75: European In-flight Autopilot Systems Market Share Breakdown by System Type: 2012 VS 2020 VS 2027 Table 76: European In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by Aircraft Type: 2020-2027 Table 77: In-flight Autopilot Systems Market in Europe in US$ Million by Aircraft Type: A Historic Review for the Period 2012-2019 Table 78: European In-flight Autopilot Systems Market Share Breakdown by Aircraft Type: 2012 VS 2020 VS 2027 Table 79: European In-flight Autopilot Systems Addressable Market Opportunity in US$ Million by Application: 2020-2027 Table 80: In-flight Autopilot Systems Market in Europe: Summarization of Historic Demand in US$ Million by Application for the Period 2012-2019 Table 81: European In-flight Autopilot Systems Market Share Analysis by Application: 2012 VS 2020 VS 2027 FRANCE Table 82: In-flight Autopilot Systems Market in France by System Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 83: French In-flight Autopilot Systems Historic Market Scenario in US$ Million by System Type: 2012-2019 Table 84: French In-flight Autopilot Systems Market Share Analysis by System Type: 2012 VS 2020 VS 2027 Table 85: In-flight Autopilot Systems Market in France by Aircraft Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 86: French In-flight Autopilot Systems Historic Market Scenario in US$ Million by Aircraft Type: 2012-2019 Table 87: French In-flight Autopilot Systems Market Share Analysis by Aircraft Type: 2012 VS 2020 VS 2027 Table 88: In-flight Autopilot Systems Quantitative Demand Analysis in France in US$ Million by Application: 2020-2027 Table 89: French In-flight Autopilot Systems Historic Market Review in US$ Million by Application: 2012-2019 Table 90: French In-flight Autopilot Systems Market Share Analysis: A 17-Year Perspective by Application for 2012, 2020, and 2027 GERMANY Table 91: In-flight Autopilot Systems Market in Germany: Recent Past, Current and Future Analysis in US$ Million by System Type for the Period 2020-2027 Table 92: German In-flight Autopilot Systems Historic Market Analysis in US$ Million by System Type: 2012-2019 Table 93: German In-flight Autopilot Systems Market Share Breakdown by System Type: 2012 VS 2020 VS 2027 Table 94: In-flight Autopilot Systems Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Aircraft Type for the Period 2020-2027 Table 95: German In-flight Autopilot Systems Historic Market Analysis in US$ Million by Aircraft Type: 2012-2019 Table 96: German In-flight Autopilot Systems Market Share Breakdown by Aircraft Type: 2012 VS 2020 VS 2027 Table 97: In-flight Autopilot Systems Market in Germany: Annual Sales Estimates and Forecasts in US$ Million by Application for the Period 2020-2027 Table 98: German In-flight Autopilot Systems Market in Retrospect in US$ Million by Application: 2012-2019 Table 99: In-flight Autopilot Systems Market Share Distribution in Germany by Application: 2012 VS 2020 VS 2027 ITALY Table 100: Italian In-flight Autopilot Systems Market Growth Prospects in US$ Million by System Type for the Period 2020-2027 Table 101: In-flight Autopilot Systems Historic Market Analysis in Italy in US$ Million by System Type: 2012-2019 Table 102: Italian In-flight Autopilot Systems Market by System Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 103: Italian In-flight Autopilot Systems Market Growth Prospects in US$ Million by Aircraft Type for the Period 2020-2027 Table 104: In-flight Autopilot Systems Historic Market Analysis in Italy in US$ Million by Aircraft Type: 2012-2019 Table 105: Italian In-flight Autopilot Systems Market by Aircraft Type: Percentage Breakdown of Sales for 2012, 2020, and 2027 Table 106: Italian Demand for In-flight Autopilot Systems in US$ Million by Application: 2020 to 2027 Table 107: In-flight Autopilot Systems Market Review in Italy in US$ Million by Application: 2012-2019 Table 108: Italian In-flight Autopilot Systems Market Share Breakdown by Application: 2012 VS 2020 VS 2027 UNITED KINGDOM Table 109: United Kingdom Market for In-flight Autopilot Systems: Annual Sales Estimates and Projections in US$ Million by System Type for the Period 2020-2027 Table 110: In-flight Autopilot Systems Market in the United Kingdom: Historic Sales Analysis in US$ Million by System Type for the Period 2012-2019 Table 111: United Kingdom In-flight Autopilot Systems Market Share Analysis by System Type: 2012 VS 2020 VS 2027 Table 112: United Kingdom Market for In-flight Autopilot Systems: Annual Sales Estimates and Projections in US$ Million by Aircraft Type for the Period 2020-2027 Table 113: In-flight Autopilot Systems Market in the United Kingdom: Historic Sales Analysis in US$ Million by Aircraft Type for the Period 2012-2019 Table 114: United Kingdom In-flight Autopilot Systems Market Share Analysis by Aircraft Type: 2012 VS 2020 VS 2027 Table 115: United Kingdom Demand Estimates and Forecasts for In-flight Autopilot Systems in US$ Million by Application: 2020 to 2027 Table 116: United Kingdom In-flight Autopilot Systems Market in US$ Million by Application: 2012-2019 Table 117: In-flight Autopilot Systems Market Share Shift in the United Kingdom by Application: 2012 VS 2020 VS 2027 REST OF EUROPE Table 118: Rest of Europe In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by System Type: 2020-2027 Table 119: In-flight Autopilot Systems Market in Rest of Europe in US$ Million by System Type: A Historic Review for the Period 2012-2019 Table 120: Rest of Europe In-flight Autopilot Systems Market Share Breakdown by System Type: 2012 VS 2020 VS 2027 Table 121: Rest of Europe In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by Aircraft Type: 2020-2027 Table 122: In-flight Autopilot Systems Market in Rest of Europe in US$ Million by Aircraft Type: A Historic Review for the Period 2012-2019 Table 123: Rest of Europe In-flight Autopilot Systems Market Share Breakdown by Aircraft Type: 2012 VS 2020 VS 2027 Table 124: Rest of Europe In-flight Autopilot Systems Addressable Market Opportunity in US$ Million by Application: 2020-2027 Table 125: In-flight Autopilot Systems Market in Rest of Europe: Summarization of Historic Demand in US$ Million by Application for the Period 2012-2019 Table 126: Rest of Europe In-flight Autopilot Systems Market Share Analysis by Application: 2012 VS 2020 VS 2027 ASIA-PACIFIC Table 127: In-flight Autopilot Systems Market in Asia-Pacific by System Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 128: Asia-Pacific In-flight Autopilot Systems Historic Market Scenario in US$ Million by System Type: 2012-2019 Table 129: Asia-Pacific In-flight Autopilot Systems Market Share Analysis by System Type: 2012 VS 2020 VS 2027 Table 130: In-flight Autopilot Systems Market in Asia-Pacific by Aircraft Type: Estimates and Projections in US$ Million for the Period 2020-2027 Table 131: Asia-Pacific In-flight Autopilot Systems Historic Market Scenario in US$ Million by Aircraft Type: 2012-2019 Table 132: Asia-Pacific In-flight Autopilot Systems Market Share Analysis by Aircraft Type: 2012 VS 2020 VS 2027 Table 133: In-flight Autopilot Systems Quantitative Demand Analysis in Asia-Pacific in US$ Million by Application: 2020-2027 Table 134: Asia-Pacific In-flight Autopilot Systems Historic Market Review in US$ Million by Application: 2012-2019 Table 135: Asia-Pacific In-flight Autopilot Systems Market Share Analysis: A 17-Year Perspective by Application for 2012, 2020, and 2027 REST OF WORLD Table 136: Rest of World In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by System Type: 2020 to 2027 Table 137: Rest of World In-flight Autopilot Systems Historic Market Review by System Type in US$ Million: 2012-2019 Table 138: In-flight Autopilot Systems Market in Rest of World: Percentage Share Breakdown of Sales by System Type for 2012, 2020, and 2027 Table 139: Rest of World In-flight Autopilot Systems Market Estimates and Forecasts in US$ Million by Aircraft Type: 2020 to 2027 Table 140: Rest of World In-flight Autopilot Systems Historic Market Review by Aircraft Type in US$ Million: 2012-2019 Table 141: In-flight Autopilot Systems Market in Rest of World: Percentage Share Breakdown of Sales by Aircraft Type for 2012, 2020, and 2027 Table 142: Rest of World In-flight Autopilot Systems Market Quantitative Demand Analysis in US$ Million by Application: 2020 to 2027 Table 143: In-flight Autopilot Systems Market in Rest of World: Summarization of Historic Demand Patterns in US$ Million by Application for 2012-2019 Table 144: Rest of World In-flight Autopilot Systems Market Share Analysis by Application: 2012 VS 2020 VS 2027 IV. COMPETITION Total Companies Profiled: 44 Read the full report: https://www.reportlinker.com/p05960996/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place. __________________________ CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001
Tesla has promised to start selling cheaper models next year, days after a Reuters report revealed that the company had shelved its plans for an all-new Tesla that would cost only $25,000.
The news that Tesla was scrapping the Model 2 came amid a drop in sales and profits, and a decision to slash a tenth of the company’s global workforce. Reuters also noted increased competition from Chinese EV makers.
Tesla’s deliveries slumped in the first quarter for the first annual drop since the start of the pandemic in 2020, missing analyst forecasts by a mile in a sign that even price cuts haven’t been able to stave off an increasingly heated competition on the EV market.
Profits dropped by 50%, disappointing investors and leading to a slump in the company’s share prices, which made any good news urgently needed. Tesla delivered: it said it would bring forward the date for the release of new, lower-cost models. These would be produced on its existing platform and rolled out in the second half of 2025, per the BBC.
Reuters cited the company as warning that this change of plans could “result in achieving less cost reduction than previously expected,” however. This suggests the price tag of the new models is unlikely to be as small as the $25,000 promised for the Model 2.
The decision is based on a substantially reduced risk appetite in Tesla’s management, likely affected by the recent financial results and the intensifying competition with Chinese EV makers. Shelving the Model 2 and opting instead for cars to be produced on existing manufacturing lines is the safer move in these “uncertain times”, per the company.
Tesla is also cutting prices, as many other EV makers are doing amid a palpable decline in sales in key markets such as Europe, where the phaseout of subsidies has hit demand for EVs seriously. The cut is of about $2,000 on all models that Tesla currently sells.
By Charles Kennedy for Oilprice.com
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Divisions within the Bank of Canada over the timing of a much-anticipated cut to its key overnight interest rate stem from concerns of some members of the central bank’s governing council that progress on taming inflation could stall in the face of stronger domestic demand — or even pick up again in the event of “new surprises.”
“Some members emphasized that, with the economy performing well, the risk had diminished that restrictive monetary policy would slow the economy more than necessary to return inflation to target,” according to a summary of deliberations for the April 10 rate decision that were published Wednesday. “They felt more reassurance was needed to reduce the risk that the downward progress on core inflation would stall, and to avoid jeopardizing the progress made thus far.”
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Others argued that there were additional risks from keeping monetary policy too tight in light of progress already made to tame inflation, which had come down “significantly” across most goods and services.
Some pointed out that the distribution of inflation rates across components of the consumer price index had approached normal, despite outsized price increases and decreases in certain components.
“Coupled with indicators that the economy was in excess supply and with a base case projection showing the output gap starting to close only next year, they felt there was a risk of keeping monetary policy more restrictive than needed.”
In the end, though, the central bankers agreed to hold the rate at five per cent because inflation remained too high and there were still upside risks to the outlook, albeit “less acute” than in the past couple of years.
Despite the “diversity of views” about when conditions will warrant cutting the interest rate, central bank officials agreed that monetary policy easing would probably be gradual, given risks to the outlook and the slow path for returning inflation to target, according to the summary of deliberations.
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They considered a number of potential risks to the outlook for economic growth and inflation, including housing and immigration, according to summary of deliberations.
The central bankers discussed the risk that housing market activity could accelerate and further boost shelter prices and acknowledged that easing monetary policy could increase the likelihood of this risk materializing. They concluded that their focus on measures such as CPI-trim, which strips out extreme movements in price changes, allowed them to effectively look through mortgage interest costs while capturing other shelter prices such as rent that are more reflective of supply and demand in housing.
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They also agreed to keep a close eye on immigration in the coming quarters due to uncertainty around recent announcements by the federal government.
“The projection incorporated continued strong population growth in the first half of 2024 followed by much softer growth, in line with the federal government’s target for reducing the share of non-permanent residents,” the summary said. “But details of how these plans will be implemented had not been announced. Governing council recognized that there was some uncertainty about future population growth and agreed it would be important to update the population forecast each quarter.”
• Email: bshecter@nationalpost.com
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Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.
The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).
Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.
Meta has been updating its ad-buying products with AI tools to boost earnings growth.
It has also been introducing more AI features on its social media platforms such as chat assistants.
The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.
Its shares fell despite it beating expectations on its earnings.
First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.
Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were “aggressive”.
She said Meta’s “substantial investment” in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money “in a time when digital advertising uncertainty remains rife”.
More than 50 countries are due to have elections this year, she said, “which hugely increases uncertainty” and can spook advertisers.
She added that Meta’s “fortunes are probably also being bolstered by TikTok’s uncertain future in the US”.
Meta’s rival has said it will fight an “unconstitutional” law that could result in TikTok being sold or banned in the US.
President Biden has signed into law a bill which gives the social media platform’s Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US.
Ms Lund-Yates said that “looking further ahead, the biggest risk [for Meta] remains regulatory”.
Last year, Meta was fined €1.2bn (£1bn) by Ireland’s data authorities for mishandling people’s data when transferring it between Europe and the US.
And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.
Ms Lund-Yates added that the firm has “more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment”.
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