The Year in Review
The global economic story of 2025 has been one of resilience amid disruption. Despite a succession of shocks — from US trade policies and elevated geopolitical risks— the world economy has held up better than many feared. In our charts this week we review:
Global data surprises and market volatility
Monetary policy calibration and inflation
The stance of fiscal policy
AI investment and productivity growth
US/China trade flows
Uncertainty and geopolitical risk
The skinny
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