Chief Economists' Outlook: September 2025
Global economies are entering a period of profound transformation marked by persistent disruptions, rising uncertainty, and deep structural shifts. Seventy-two percent of chief economists expect global conditions to weaken over the next year as trade tensions, supply chain realignments, and rapid AI development reshape markets. The United States faces subdued growth amid inflation and policy shifts, Europe’s fragile recovery is stabilizing, and China’s momentum is slowing despite relative strength. Meanwhile, emerging regions such as the Middle East and North Africa show robust prospects driven by resource diversification, while Sub-Saharan Africa, South Asia, and Latin America face mixed outcomes. As geoeconomic fragmentation deepens and global institutions weaken, the world faces widening divergence between advanced and developing economies. Still, substantial growth potential remains in developing regions, with innovation, political stability, and international collaboration key to unlocking a more resilient and inclusive global order.