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By Daniel MORRIS, Chief Market Strategist, BNP Paribas Asset Management
The global economy enters 2026 with surprising resilience. Growth forecasts have been revised upward – the International Monetary Fund now projects 3.2% global expansion in 2025, buoyed by a rebound in activity, despite ongoing trade frictions.
Across regions, the outlook is marked by diverging paths. Europe is regaining momentum; reduced policy uncertainty and a major fiscal reset in Germany are set to accelerate growth, supported by increased infrastructure and defence spending.
The US is navigating policy crosscurrents – it faces a complex macroeconomic environment shaped by new policy directions, including tariffs and a looser fiscal stance. These...
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