OPEC stated in a monthly update that the global economy is forecast to continue its steady expansion, supported by solid performance seen so far this year. The global economic growth forecast for 2025 is revised up slightly to 3.1%, while for 2026 it remains unchanged at 3.1%. The US economic growth forecasts remain at 1.8% for 2025 and 2.1% for 2026. Japan's economic growth forecasts remain at 1.1% for 2025 and 0.9% for 2026. Eurozone economic growth forecasts remain unchanged at 1.2% for both 2025 and 2026. China's economic growth forecasts remain at 4.8% for 2025 and 4.5% for 2026. India's prospects have improved, with economic growth forecasts revised up to 6.7% for 2025 and 6.6% for 2026. Brazil's economic growth forecast remains at 2.3% for 2025, while 2026 is lowered slightly to 2.0%. Meanwhile, Russia's growth forecasts for 2025 and 2026 are revised down slightly to 1.3% and 1.4%, respectively. The global economy is expected to sustain steady growth through the end of 2025 and into 2026, supported by healthy consumer dynamics, limited spillovers from trade tensions, successful re-routing of trade flows, and supportive fiscal and monetary policies across major economies. The impact of US tariff measures has largely been absorbed and is expected to continue easing into 2026 as recently signed trade agreements with major partners are reconfirmed and expanded.
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