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Oxford Economics warns US tariff hikes signal a downturn in global economic outlook
The Star
|April 30, 2025
THE announcement of substantial tariff hikes by the US administration marked a turning point in global economic outlook, as reflected in the latest Global Risk Survey conducted by Oxford Economics.
Launched on April 3, just hours after the US declared 'Liberation Day,' the survey revealed a significant deterioration in business sentiment, continuing a trend of pessimism that lasted throughout the three-week sample period.
The latest quarterly survey, completed by 125 clients across sectors, reveals a complex landscape driven by fears of imminent trade wars, economic sluggishness, and shifting global dynamics.
The Global Business Sentiment Index, derived from these surveys, indicated a worrying forecast: global gross domestic product (GDP) growth is projected to decelerate to just 1.2% by late 2025.
This is half the growth rate businesses anticipated in January and 0.6 percentage points below the most recent baseline.
This story is from the April 30, 2025 edition of The Star.
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