University of Kwazulu-Natal

2026 Outlook What S Next For Markets And The Global Economy

Bonisiwe Shabane
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2026 outlook what s next for markets and the global economy

Goldman Sachs Research economists expect sturdy global growth of 2.8% in 2026, versus a consensus forecast of 2.5%. The US is likely to outperform substantially (2.6% vs. 2.0%) because of reduced tariff drag, tax cuts, and easier financial conditions. Sturdy global growth coupled with non-recessionary Fed cuts should be positive for global equities, but tensions with 'hot valuations' may increase volatility. Goldman Sachs Research analysts remain constructive on equities for 2026 as earnings continue to grow, but forecast lower index returns than in 2025, amid a broadening bull market. The US-China AI and geopolitical power race and global energy supply waves drive our analysts' key convictions.

Goldman Sachs Research's cyclical macro base case of sturdy global GDP growth and 50 basis points of Fed rate cuts in 2026 is again supportive of top-down commodity returns. Our signature newsletter with insights and analysis from across the firm Deloitte Insights and the our research centers deliver proprietary research designed to help organizations turn their aspirations into action. For personalized content and settings, go to your My Deloitte Dashboard Stay informed on the issues impacting your business with Deloitte's live webcast series. Gain valuable insights and practical knowledge from our specialists while earning CPE credits.

Stay informed with content built for today’s business leaders. From data visualizations to expert commentary, our video content delivers concise, actionable information to help you lead with clarity in a complex world. Looking to stay on top of the latest news and trends? With MyDeloitte you'll never miss out on the information you need to lead. Simply link your email or social profile and select the newsletters and alerts that matter most to you. After two quarters of cautious views on the economy and heightened focus on trade policy, surveyed executives are closing out 2025 with more confidence in both the macroeconomic environment and in their organizations’ performance.

In the latest McKinsey Global Survey on economic conditions,1The online survey was in the field from November 24 to December 5, 2025, and garnered responses from 1,011 participants in 81 nations representing the full... To adjust for differences in response rates, the data are weighted based on each respondent’s nation, taking into consideration its contribution to the region’s share of the global GDP (based on purchasing-power parity). Prior to 2025, the survey employed a country-based weighting scheme to align with global GDP (based on purchasing-power parity). The new region-based weighting scheme limits over- or underrepresentation of individual countries and improves weighting efficiency of the data set overall. respondents express the brightest near-term expectations seen this year. For the past two quarters, trade policy changes were the top perceived risk to growth in the global economy, in respondents’ countries, and in their own companies.

Now, respondents turn their attention toward geopolitical instability and conflicts, though trade-related changes continue to be a commonly cited risk to growth. Respondents also report growing confidence in their companies’ outlook, as leaders prioritize their customers and their technology investments over macroeconomic considerations. World Economic Forum: A preview of Davos 2026 Join senior partners Tracy Francis and Yuito Yamada for an insider’s look at the themes set to shape the 2026 agenda. From unlocking enterprise value with agentic AI and elevating next-generation leadership to building resilience for growth amid geopolitical volatility, they’ll explore what will likely shape the global business landscape in 2026. After three quarters of largely negative assessments of current global conditions, respondents now report more even-keeled views of the present economy as well as increased optimism for the future.

In the latest survey, respondents are about equally likely to say conditions have improved or worsened (Exhibit 1). As a global specialist in sectors ranging from renewables and infrastructure to technology, resources, commodities and energy, Macquarie has deep expertise and capabilities in these areas. We are a global financial services organisation with Australian heritage, operating in 31 markets. We offer our investors a track record of unbroken profitability. We believe in a workplace where every person is valued for their uniqueness and where different views and ideas are embraced. Follow the links to find the logins you’re looking for:

For people managing their own savings and investments. For wealth managers and financial advisers managing savings and/or investments on behalf of someone else. For DC, DB and LGPS schemes, insurers, charities, universities, family offices and treasurers. For shareholders, careers and company information. Will AI-driven growth keep global markets rolling, or are new risks on the horizon? Discover key forecasts for the US, China, Europe and Japan in our latest economic outlook.

At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues. Learn from our industry leaders about how to manage your wealth and help meet your personal financial goals. At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues. From volatility and geopolitics to economic trends and investment outlooks, stay informed on the key developments shaping today's markets.

At Morgan Stanley, we lead with exceptional ideas. Across all our businesses, we offer keen insight on today's most critical issues. Against a backdrop of uneven monetary policy, relentless AI expansion and intensifying market polarization, what’s the outlook for equities, commodities, currencies and more?

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