Looking ahead to 2025: expect the unexpected

Looking ahead to 2025: expect the unexpected

16 December 2024 | 1 min. readingtime

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Looking ahead to 2025: expect the unexpected

2024 has been a special investment year with a lot of unexpected twists and turns. Not only in the financial markets, but also from a macro-economic and geopolitical perspective. Will 2025 at last be business as usual again for investors, or should we continue to expect the unexpected?


With growth of around 3%, the global economy performed more or less as expected in 2024. However, the variations in regional growth were greater than expected. The US economy performed significantly better than expected, with an estimated growth of over 2.5% in 2024. US growth was also broadly supported, with business investment leading the way. With growth of less than 1%, the eurozone economy had another disappointing year, with higher exports and public spending but held back by low consumer spending and business investment. Lastly, China’s economy grew by less than 5%, slightly below the authorities’ growth target and well below the average in recent decades.


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