Global Economic Outlook

Global Economic Outlook each quarter summarises the forecasts and outlooks of international institutions and selected central banks for the euro area, Germany, the USA, China, the United Kingdom, Japan, Russia, Poland and Hungary. It also provides an overview of the latest monetary policy developments in these territories. Each issue additionally analyses a selected topic significantly affecting the world economy or having an academic subtext. Central Bank Monitoring will be incorporated into Global Economic Outlook starting from 2025.

GEO
October 2025
According to the IMF’s autumn forecast, global economic growth is expected to slow very gradually to 3%, with advanced economies growing by 1.5% next year. Further details can be found in the October issue of GEO, including a chart showing the evolution of countries ’ innovation rankings. South Korea and China are among the biggest climbers, while the UK and Germany have lost ground. Switzerland remains at the top, with Sweden in second place, ranking highest among EU countries. The thematic article focuses on the economic impacts of defence spending. Drawing on estimates from existing empirical studies, it outlines how current trends in the area of defence budgets will affect the functioning of the European economy. Details (pdf, 1.1 MB)

2025

Unless indicated otherwise, the presented data1) are taken from the official forecasts of Consensus Forecasts (CF), the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD), the European Central Bank (ECB), Deutsche Bundesbank (DBB), the Federal Reserve System (Fed), the Bank of England (BoE), the Bank of Japan (BoJ) and the Economist Intelligence Unit (EIU).

1) The CNB’s External Economic Relations Division guarantees that these data are up-to-date, but cannot vouch for their correctness and quality.