2025_outlook

Geopolitics

Emerging Markets

US Cycle

Transitioning to a riskier, messier and diversifying world

Read the article

The rise of regional connectivity in Emerging Asia

Read the article

The extraordinary US cycle is becoming more balanced

Read the article

Get more insight

Bright spots in a world of anomalies

Go to 2025 Investment Outlook

Get the full picture

The global economy is expected to soften in 2025. The US economy will moderate due to cooling domestic demand and labour market conditions. Disinflation may persist, but inflation risks loom and the Fed may need to adapt to a potential shift in US policy. Europe is positioned for a modest recovery, with strategic investments in focus. Emerging markets are likely to continue to command a growth premium over developed ones, and Asia remains a major driver of growth.

Bright spots in a world of anomalies