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The United Nations has cut its global GDP growth forecasts for 2026 and 2027, citing energy price shocks from the Strait of Hormuz closure and financial instability linked to the Middle East conflict. Developing nations and West Asia are hardest hit, while U.S. and China forecasts remain unchanged.
Japan's economy grew 2.1% annualized in the first quarter of 2026, marking the second straight quarter of expansion, driven by a recovery in exports and personal consumption. However, economists warn that the full impact of the Middle East conflict, particularly higher energy prices, may affect the second quarter.
Japan's real GDP grew an annualized 2.1% in Q1 2026, topping market expectations of 1.5% and signaling a robust recovery. Consumer spending and exports drove growth, though higher imports also pointed to strong domestic demand.
