Global Scans · Decent Work and Growth · Weekly Summary

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

• [New] Battery storage systems will play a critical role in the growth of solar energy in off-grid and remote areas of India. Electronics Era
• [New] Overly protective trade measures risk significantly increasing production costs, putting UK manufacturers at a disadvantage in global markets and inhibiting their potential for growth. Manufacturing & Production Engineering Magazine - Engin
• [New] As 2025 progresses, India's role in global politics will continue to evolve, creating new opportunities for economic growth and strategic partnerships. Indian Politics
• [New] DBS analysts project 5% growth for China in 2025 driven by policy stimulus and exports, though they caution that new US tariffs could reduce growth by up to one percentage point. offshore-protection.com
• [New] Major risks include a decline in global demand due to slower economic growth or widespread adoption of renewable energy sources. KappaSignal
• [New] As the halal industry flourishes globally and continues to have greater salience, many countries are affected by its presence and use it as an opportunity to stimulate economic growth. Springer Nature Singapore
• [New] A series of weaker-than-expected US economic data prompted economists to downgrade their first-quarter growth forecasts, leading markets to price in additional US Federal Reserve (Fed) easing for the year. Nikko AM Hongkong Site
• [New] As the world moves further into the AI and digital age, emerging technologies offer new opportunities for growth and efficiency. mig-hk
• [New] The Asia Pacific region is anticipated to experience the fastest growth during the forecast period. Yahoo Finance
• [New] Lancaster and Rochdale are both forecast to see their annual GVA growth (1.5%) trail slightly behind the UK average between 2025 and 2028, while matching the North West rate. North West
• [New] Elsewhere in the North West, Liverpool is expected to see the UK's joint-eighth-fastest economic growth between 2025 and 2028, with an annual average of 1.5% - marginally slower than the national rate but in line with the regional average. North West
• [New] Business adviser EY's latest Regional Economic Forecast claims that, when measured by gross value added (GVA), Manchester's economy is expected to see average annual growth of 2.1% in the three year period, faster than the national growth rate of 1.6%. North West
• [New] A convergence of growth rates between the US and the Eurozone is expected in the course of 2025, via a slowdown in US growth. economic-research.bnpparibas.com
• [New] There are upside risks to US inflation, potentially leading to increasing gaps in interest rates vis-a-vis other advanced economies and downward risks to growth in targeted economies, including the euro area and Ireland, as well as the US itself. Central Bank of Ireland
• For immigrants considering a move to Europe for work opportunities, it's important to understand which sectors will drive growth in the coming years. ICC Immigration Inc
• A few countries in Asia - India, Vietnam, Indonesia and the Philippines - are expected to see especially strong growth. The Manila Times
• As global markets grapple with tariff fears, inflationary pressures, and growth concerns, investors are witnessing significant volatility across major indices. Simply Wall St
• South Asia and ASEAN to produce faster growth rates than other regions South Asia and the ASEAN regions are forecasted to deliver the fastest trade volume growth among major world regions from 2024 to 2029 with CAGR of 5.6% and 5.0%, respectively. vietnamnews.vn
• The IEA revised down its 2025 oil demand growth forecast by 70,000 bpd to around 1 million bpd, with growth driven largely by Asia, specifically China's petrochemical industry. Regal Discount Securities
• In addition to China's petrochemical sector, India and other emerging markets in Asia are expected to drive demand growth. Energy Connects
• North America and Europe will remain key markets, but Asia-Pacific and Latin America will show significant growth potential. Credence Research
• The Indian rupee is expected to further weaken after hitting a new low earlier this year on expectations of interest rate cuts to lift economic growth. Nikko Asset Management NZ
• We are keeping close watch on China's counteracting policies this year, as consumption could play a much more significant role in propping up growth. Nikko Asset Management NZ

Last updated: 23 March 2025