J P M O R G A N Global Economic Research 20 June 2025 Global Data Watch What not to expect when you are expecting Having expanded at a trend-like pace of 2.4%ar in 1H25, we see global GDP growth downshifting to 1.4%ar in 2H25—its slowest pace in over three years. An inflation rotation is also anticipated as US core CPI inflation accelerates towards a 4%oya pace while Euro area inflation drops to 2%. Against this backdrop, we look for cautious easing by central banks. Softening labor markets should prompt an ...

18 May 2025 | 3:06AM EDT Oil Comment: Maintaining Our Cautious Oil Price Forecast as Higher Iran Supply Assumption Offsets Higher GDP Daan Struyven +1(212)357-4172 | daan.struyven@gs.com Goldman Sachs & Co. LLC Yulia Zhestkova Grigsby +1(646)446-3905 | yulia.grigsby@gs.com Goldman Sachs & Co. LLC n We are maintaining our below-the-forwards Brent/WTI oil price forecasts of $60/56 for the remainder of 2025 and $56/52 in 2026 as the price drag from a higher Iran supply assumption and from slightly higher than ...