A recent report from Standard & Poor's, released on March 27, 2025, highlights that heightened US policy uncertainty is impacting the global economic outlook.

As a result of these uncertainties, S&P has downgraded its growth expectations, particularly concerning tariffs.

Specifically, the agency lowered its US GDP growth forecast from 2% to 1.9% for 2026, while maintaining the forecast at 1.9% for 2025.

Despite these adjustments, the global economic growth forecast remains steady at 3% for 2025, though it has been revised down from 3.1% to 3% for 2026.

The report indicates that forecasts have also been revised down for several major economies, including Germany, France, Italy, the UK, Japan, India, Mexico, and South Africa.

In the Eurozone, the growth forecast has been reduced by 0.3 percentage points to 0.9% for 2025, with a slight increase of 0.1 percentage points to 1.4% for 2026.

Europe's growth is expected to decline this year, but an improvement is projected for 2026, driven by increased defense and infrastructure spending.

In contrast, the economic outlook for China remains stable, according to S&P.