S&P Global predicts that global economic growth and international trade will be relatively weak during the second half of 2025. The IMF’s July forecast anticipates that growth of global trade in goods and services will slow in price-adjusted terms from 3.5% in 2024 to 2.6% in 2025.
S&P Global expects the world economy to grow by 2.4% in 2025, following 2.8% in the previous year. This weakening owes mainly to developments in the United States, where growth is expected to halve from 2.8% in 2024 to 1.4% in 2025. The slowdown will be more limited in China, while growth in the eurozone and especially in Germany should even pick up slightly. The German economy will increasingly benefit from the planned multi-year fiscal loosening in the form of new off-budget funds for infrastructure and defense.
