The May 2025 Chief Economists Outlook explores key trends in the global economy, including the latest outlook for growth, inflation, monetary and fiscal policy. It underlines the exceptional uncertainty of the current economic environment, highlights key drivers and impacts, and discusses the compounding effect of an ongoing AI revolution. This series of reports draws on the individual and collective perspectives of a group of leading chief economists through consultations with the World Economic Forum’s Chief Economists Community and a regular Chief Economists Survey.

The May 2025 edition of the Chief Economists Outlook is published at a time of extraordinary volatility and uncertainty. The global economic outlook has worsened since the start of the year, as rising economic nationalism and tariff volatility fuel uncertainty and risk stalling long-term decision-making. The growth outlook is divided, with weak prospects in North America, resilience in Asia-Pacific and cautious optimism in Europe as countries are forced to adapt to a new geoeconomic environment. This edition also discusses the ongoing AI revolution, highlighting its potential to drive growth but also coming with serious risks. By aligning technological innovation with a clear understanding of the broader economic landscape, organizations can position themselves for resilience and expansion at a time of profound disruption.