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Jabil's Global Category Intelligence Archive
Global Category Intelligence
Q3 2024
Jabil's Global Category Intelligence Archive
Global Category Intelligence
Q3 2024
Executive Summary
Q3 2024
Welcome to the latest edition of our Global Category Intelligence Report. This publication provides insights across the indirect procurement ecosystem and includes insights and analysis from Jabil’s team of experts on the range of categories that our teams trade in daily.
Although the global economic outlook has started to brighten, growth remains modest. The impact of tighter monetary conditions continues, especially in housing and credit markets.
Still, global activity is proving relatively resilient. Inflation is falling faster than initially projected, and private sector confidence is improving. Supply and demand imbalances in labor markets are easing, with unemployment at or near record lows. Real incomes have improved as inflation moderates and trade growth has turned positive. Developments continue to diverge across countries, with softer outcomes in many advanced economies, especially in Europe, offset by strong growth in the United States and many emerging market economies.
In our Q3 edition, we offer our perspective on industry-recognized spend categories, deeper sub-commodities, and areas of regulation that we believe our partnership network will find valuable and insightful.
We explore the complexity of the situation in the Red Sea and its ripple effects on global supply chains, causing industry-wide disruptions that are expected to continue into the third quarter of 2024. Despite hopes for improvement, we continue to face additional challenges and costs, including longer journey durations, increased sailing speeds to compensate for delays, additional fuel expenses, high charter rates, and operational bottlenecks that reduce available capacity.
We also examine the shifts in the global electricity market as demand rose moderately last year but is set to grow faster through 2026, driven primarily by data centers, artificial intelligence, and the cryptocurrency sectors.
We also outline the significant global shifts as the move to sustainable energy sources continues to gather momentum, with fossil fuels scheduled to fall below 60% of global generation by 2026.
We hope you find this report insightful and informative. If you have any questions or want to discuss the publication further, please do not hesitate to contact me or Josh Wilson, our Market Intelligence Research Manager, directly.
Yours sincerely,
Heidi Banks
Global Indirect Procurement
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