Global Economic Growth Outlook Mixed for 2025

Recent economic forecasts reveal a cautious outlook for global growth, with projections indicating a 3.2% increase for 2024 and 2025, down from 6.6% in 2021. Steel demand is anticipated to decline slightly by 0.9% in 2024, with recovery expected in 2025, particularly in India, while China faces challenges due to a weak real estate sector. In Canada, the economy grew by only 1.0% in Q3 2024, with potential U.S. tariffs threatening exports and overall business confidence. The U.S. economy is projected to slow from 2.6% growth in 2024 to 1.8% in 2025, impacted by high borrowing costs. Global inflation is expected to ease from 6.9% in 2023 to 5.0% in 2024, with central banks remaining cautious in their monetary policies amid persistent inflationary pressures. As geopolitical factors and domestic challenges unfold, experts emphasize the need for coordinated fiscal and monetary strategies to navigate the uncertain economic landscape.