The quarter, in perspective.
Our quarterly market overview, tracking the global economy, the Indian economy, equity markets and corporate performance, and what it means for long-term equity investors.

Market Overview – June 2026
Global growth is forecast to slow to 2.5% this year, the lowest since the pandemic, as higher energy prices, rising inflation, tighter monetary conditions and weaker trade weigh on activity.
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Market Overview – March 2026
The IMF cut its 2026 global growth forecast by 20 bps on Middle East conflict risks; the reference case is 3.1% for 2026 and 3.2% for 2027.
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Market Overview – December 2025
The IMF projects global growth of 3.3% in 2026 and 3.2% in 2027, versus an estimated 3.3% in 2025.
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Market Overview – September 2025
The IMF raised its 2025 world growth forecast to 3.2% (from 3.0%), attributing the momentum to temporary factors such as front-loaded trade and investment.
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Market Overview – June 2025
Global growth is expected to slow from 3.3% in 2024 to 2.9% in both 2025 and 2026.
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Market Overview – March 2025
The IMF cut its 2025 global growth outlook by 50 bps to 2.8% in April, from 3.3% in January, citing trade and policy uncertainty.
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Market Overview – December 2024
Global growth held near 3.2% in 2024 despite protectionism and weak outlooks for the Euro-zone and China.
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Market Overview – September 2024
Global growth is projected at 3.2% for both 2024 and 2025; the short-term outlook is stabilising, though vulnerabilities remain.
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Market Overview – June 2024
The IMF kept its 2024 global growth forecast at 3.2% and raised 2025 by 0.1 point to 3.3%.
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Market Overview – March 2024
Global growth is projected at 3.1% in 2024 and 3.2% in 2025, below the 3.8% 2000–2019 average.
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Market Overview – December 2023
Global growth is projected at 3.1% in 2024 and 3.2% in 2025, below the 3.8% average, amid high policy rates and fiscal withdrawal.
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Market Overview – September 2023
Global GDP is expected to grow 2.7% this year, 100 bps above the Bloomberg forecast of a year ago; the US at 2.4%, 200 bps above consensus.
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Market Overview – June 2023
Global growth is fragile, projected at 2.7% for 2023, the weakest since the global financial crisis excluding 2020, though above April’s forecast.
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Market Overview – March 2023
Hopes of a soft landing in early 2023 faded amid stubbornly high inflation and financial-sector turmoil, leaving the 2023 outlook uncertain.
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Market Overview – December 2022
An IMF survey suggests inflation peaked in 2022, consumer spending remains robust and the energy crisis was milder than feared.
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Market Overview – September 2022
US equities were down about 25% as of September 2022, the worst performance since 2002, amid Fed tightening and shrinking liquidity.
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Market Overview – June 2022
H1 2022 was historically poor for global equities; US markets were down more than 20% as of June 2022.
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Market Overview – March 2022
After two years of loose monetary policy lifted markets, they fell sharply on inflation, geopolitics and supply-chain strain.
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Market Overview – December 2021
Global growth is expected to moderate from 5.9% in 2021 to 4.4% in 2022, weighed down by Omicron, inflation and China’s property retrenchment.
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Market Overview – September 2021
Global equities posted positive quarterly returns as economies reopened and activity picked up.
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Market Overview – June 2021
Global equities continued to rise as vaccination accelerated across developed economies.
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Market Overview – March 2021
January–March 2021 equity gains were supported by strong recovery indicators, mass vaccination, US fiscal support and central-bank policy.
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