Global Economic Outlook: May 2026

2026-05-18 11:22:00 ET

What are the key changes in our global economic outlook this month?

Higher-for-longer energy prices mean higher-for-longer inflation and lower-for-longer economic growth and our forecasts have been revised accordingly. At the time of writing, whether an agreement could be reached to end the conflict in the Middle East in the near future remained highly uncertain. Even if a deal is struck soon – and holds, which is also uncertain – S&P Global Energy’s experts expect that it will take months for oil production and supply to start to normalize. What a new normal would look like for shipping security and costs in the Strait of Hormuz is also unclear....

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