Global Economic Growth Adjusted Downward

The Organization of Petroleum Exporting Countries (OPEC) has revised its global economic growth forecast for 2025 down to 2.9%, a slight decrease from the previous month's prediction of 3.0%. This adjustment comes in response to the contraction in the US economy during the first quarter of 2025 and ongoing trade uncertainties, despite some offset from additional support measures in key economies.

Regional Growth Forecasts Show Varied Trends

The US economy is now expected to grow by 1.7% this year, with a slight increase to 2.1% in 2026, down from earlier forecasts. Meanwhile, the Eurozone's growth outlook for 2025 has been adjusted upward to 1%, with 2026 projections remaining stable at 1.1%. China's economy is anticipated to expand by 4.6% in 2025 and 4.5% in 2026, bolstered by a recent agreement between the US and China to reduce tariffs, marking a significant step towards easing trade tensions.

Steady Global Growth Despite Challenges

OPEC notes that the global economy continues to exhibit steady growth, even in the face of recent tariff-related developments. The global economic growth forecast for 2026 stands unchanged at 3.1%, reflecting a cautious optimism about the future.