S&P Global projects global economic growth will decelerate to 3.2% in 2026.
This forecast represents a decline from the 3.4% growth rate expected in the prior year.
The firm attributes the slowdown to the West Asia conflict, which it labels the most significant energy shock on record.
The hostilities increasingly disrupt global shipping, energy supplies, trade, and vital infrastructure.
Europe and Asia face the most severe impacts as net energy importers.
Final economic consequences depend on the scale, intensity, and duration of the conflict.