REAL-TIME GLOBAL RESEARCH
Global Economic Outlook Summary
Research evidence excerpt
Maia Crook (1-212) 622-8435
JPMorgan Chase Bank NA
Alex Gallin (1-212) 270-5492
JPMorgan Chase Bank NA
Joseph Lupton (1-212) 834-5735
JPMorgan Chase Bank NA
Global Economic Research
JPMORGAN
07 August 2026
Global Economic Outlook Summary
2025
Real GDP
% over a year ago
% over previous period, saar
2026
2027
1Q26
2Q26
3Q26
Consumer prices
4Q26
% over a year ago
1Q27
2Q27
4Q25
2Q26
4Q26
2Q27
United States
Canada
Latin America
Argentina
Brazil
Chile
Colombia
Ecuador
Mexico
Peru
Uruguay
2.1
1.9
2.1
4.4
2.3
2.5
2.6
3.7
0.5
3.4
1.8
2.1 h
0.8 h
1.9
2.7
2.0
1.0
2.6
3.0
1.4
3.0
1.1
2.0
1.6
1.8
3.0
1.3
3.2
1.5
2.0
1.7
2.9
1.4
2.1
-0.1
1.6
3.0
4.5
-1.1
2.4
4.5
-2.4
2.4
3.2
1.5
3.0 h
2.9
-1.5
2.0
1.2 h
2.5
0.3
6.1
2.5
0.4
2.5 h
1.4
1.6 i
3.8
1.2
4.0 i
1.5
1.0
0.5 i
4.0
0.0
1.8
1.4
2.1 h
4.5
1.0
3.5
0.5
2.0
2.5 h
2.5
1.0
2.3
1.7
2.1 i
4.0
2.4
2.5
1.5
3.0
1.0 i
3.5
1.3
2.3
1.7
1.3
2.0
0.4
3.0
2.0
2.3
1.3 i
2.7
0.0
2.7
2.2
3.9
31.8
4.5
3.4
5.3
1.4
3.7
1.4
4.0
3.8
3.0
4.3
32.8
4.6
4.0
5.8
1.9
3.9
4.0
3.1
3.5 i
2.7
4.4
29.4
4.9
3.8
6.2
2.2
3.7
4.1
4.3
1.8 i
1.6
3.8
20.5
3.8
3.4
5.9
1.5
3.5
3.2
5.1
Asia/Pacific
Japan
Australia
New Zealand
EM Asia
China
India
Ex China/India
Hong Kong
Indonesia
Korea
Malaysia
Philippines
Singapore
Taiwan
Thailand
4.5
1.1
2.0
0.2
5.2
5.0
7.7
4.0
3.6
5.1
1.1
5.2
4.4
5.0
8.8
2.4
4.3 h
0.9 h
2.0
2.1
4.9
4.6
6.5
4.9 h
3.4
5.0 h
3.8
5.3
3.5 i
4.6
9.9
2.8
3.9
1.1 h
1.8
2.3
4.4
4.3
6.3
3.8
2.9
4.9
3.3
4.5
5.3 i
2.5
3.7
2.5
5.6
1.8
1.1
3.2
6.5
6.3
8.0
6.0 i
12.1
5.3 i
7.5
1.7
3.8
5.3
6.9
2.7
2.9 h
1.9 h
1.6
1.2
3.1
2.4
5.1
4.1 h
-2.4
5.1 h
2.5
8.5
2.3 i
4.6
9.9
0.8
3.7
1.0
1.5
3.4
4.2
4.3
5.0
3.7 h
2.8
3.7 h
4.0
5.0
6.5 h
1.0
3.2
2.8
4.1
1.3
1.9
1.2
4.7
4.9
6.2
3.2
2.8
2.9 h
3.0
4.5
7.0 i
1.0
3.2
2.8
4.0 i
1.0
1.5
4.0
4.6
4.5
6.3
4.0 i
3.0
6.0 i
3.5
4.0
4.1
3.0
4.0
2.8
4.1
1.2 h
1.7
1.0
4.7
4.5
6.7
4.1
2.8
5.8 i
3.5
4.0
5.5
3.0
4.0
2.4
1.2
2.7
3.6
3.1
0.9
0.6
0.8
1.8
1.3
2.8
2.4
1.4
1.7
1.2
1.3
-0.5
2.0
1.5
3.9
3.8
1.9
1.1
4.1
2.9
1.9
2.9 h
3.0
2.0
6.8
1.7
2.2
2.7
2.3
2.9
3.9
3.7
2.1
1.0
5.6
3.2
1.7
3.4 i
3.5
2.1
6.5
2.4
2.2
3.1
1.9 i
2.3 i
3.6
2.4
1.7
0.7
5.5
2.3 h
1.6
2.7 h
2.6
1.8
3.8
1.9
1.7
0.6
Western Europe
Euro area
Germany
France
Italy
Spain
…
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