Economic News:
Consumer confidence continued to decline in March, with the Conference Board’s index falling for the fourth consecutive month to 92.9, while its expectations component dropped to 65.2, a 12-year low, signaling potential recessionary risks. The University of Michigan’s Consumer Sentiment Index also fell 12% to 57.0, with expectations plunging 18% amid growing concerns over economic policy, while year-ahead inflation expectations rose to 5.0%, the highest since November 2022. Meanwhile, business activity accelerated, as S&P Global’s Flash Composite PMI reached 53.5, driven by strength in the services sector, though future outlooks deteriorated to their second-lowest level since October 2022 due to concerns over demand and policy uncertainty. Additionally, input prices surged at the fastest rate in nearly two years, driven by tariffs and rising labor costs.
What We’re Showing:
Which economies are set to grow the fastest? Using the latest IMF projections, this infographic ranks the fastest growing economies in 2025, highlighting Africa and Asia as the top regions. See below for the raw data behind this graphic.
Key Insights:
The top economies in this ranking are heavily tied to the oil sector, meaning fluctuations in production can have a drastic effect on GDP. Let’s take a closer look at the top two.
South Sudan’s GDP has fluctuated up and down in recent years due to an ongoing civil war that has thrown its population into extreme poverty. As a landlocked country, South Sudan also relies on pipelines that run through its northern neighbor, Sudan, to transport its oil to the Red Sea. In 2024, South Sudan’s most important pipeline ruptured, putting massive strain on government revenue. Repairing the pipeline is difficult because parts of it lie in active conflict zones. According to Bloomberg, South Sudan has been seeking alternative routes to export its oil, as well as cash bailouts from Qatar and the United Arab Emirates to stay afloat.
Guyana is the only South American country featured in this ranking. It was once one of the poorest countries in the region until major oil deposits were discovered off its coasts in May 2015. According to a 2023 article from the Associated Press, oil production in Guyana began in December 2019 and has generated over a billion dollars in revenue. The Guyanese government is using this money to fund a massive infrastructure boom which includes new hospitals, schools, highways, and its first deep-water port.
Analysts expect the country’s total oil revenues will reach $157 billion by 2040