Insight
Global economic outlook Q4 2025: recent resilience masks impending slowdown
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Report summary
The global economy maintains momentum through 2025, buoyed by businesses racing to beat tariff hikes and AI investment surging. But trade tensions and uncertainty persists. A temporary US-China trade truce offers brief respite while a formal deal is negotiated. In the year ahead, we expect slower global economic growth as tariff impacts ripple through economies. US consumers face inflation squeezing wages, while China's stimulus fades ahead of the keenly anticipated release of the 15th Five-Year Plan in March.
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