Publications | Economic Analysis and Policy Division

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02 June 2025

World Economic Situation and Prospects: June 2025 Briefing, No. 190

Global macroeconomic outlook The global economic outlook as of mid-2025 has deteriorated notably, according to the latest World Economic Situation and Prospects (WESP) update. Global growth is now forecast to slow to 2.4 per cent in 2025, down from 2.9 per cent in 2024 and 0.4 percentage points below the January forecast (figure 1) This downward revision primarily reflects heightened trade tensions and intensified policy uncertainty, which are expected to strain global supply chains, raise production costs, and delay critical investment decisions, besides fuelling financial market volatility (figure 2). According to UN DESA estimates, the effective tariff rate of the United…

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15 May 2025

World Economic Situation and Prospects as of mid-2025

The world economy is at a precarious moment. Heightened trade tensions, along with policy uncertainty, have significantly weakened the global economic outlook for 2025. Higher tariffs—resulting in a significant increase in the effective tariff rate in the United States of America—are likely to strain global supply chains, drive up production costs and delay critical investment decisions, while also contributing to financial market volatility. Global economic growth is now projected to slow to 2.4 per cent in 2025, down from 2.9 per cent in 2024, and 0.4 percentage points below the January forecast. The downward revisions in growth forecasts are broad-based, affecting both developed and…

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World Economic Situation and Prospects as of mid-2025

01 April 2025

World Economic Situation and Prospects: April 2025 Briefing, No. 189

Navigating through an inflationary world The current inflation landscape Inflation has once again become a central topic among academics, policymakers, and in the daily lives of citizens. For much of the past two decades, inflation remained relatively low and stable in most developed and developing economies, even as a few countries experienced high inflation amid economic and financial crises or macroeconomic mismanagement. Between 2000 and 2020, global inflation averaged 3.4 per cent, compared to 8.0 per cent in the 1980s and 7.1 per cent in the 1990s. Even in developing countries, where inflation is typically higher and more volatile, it followed a downward trend since the mid-1990s,…

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