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High-frequency activity from July and August indicators suggest ongoing growth momentum overall. Business surveys continue to point to stronger activity in services than in manufacturing sectors. While consumer confidence remains subdued relative to long-term trends, survey indicators suggest that confidence is improving in Europe and emerging-market economies. Headline inflation has continued to fall this year in most G20 countries.
3.2% | Projected global GDP growth for 2025
3.3% | Projected G20 headline inflation in 2025
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