We forecast the global economy to grow by 2.9% in both 2025 and 2026 (previously 2¾% in both years).
Insight
Partial economic indicators are starting to stabilise somewhat, but the overall trend in the data was disappointing for the month of July given our expectations for a slight improvement in economic growth over H2 2012. Industrial production softened further along with nominal retail sales, while export growth and bank loans were both well below expectations. […]
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