JANUARY 2026 ECONOMIC OUTLOOK

JANUARY 2026 ECONOMIC OUTLOOK

FOREWORD: THE ERA OF COMPLEX SYSTEMS We are now navigating a global economy in which traditional analytical categories are reaching their limits. This outlook synthesizes three complementary levels of analysis: market dynamics (trading data and financial flows),...
GLOBAL ECONOMIC & MARKETS OUTLOOK: NOVEMBER 2025                                                                                               Beyond the Soft Landing is the Great Sectoral Divergence

GLOBAL ECONOMIC & MARKETS OUTLOOK: NOVEMBER 2025 Beyond the Soft Landing is the Great Sectoral Divergence

EXECUTIVE SUMMARY The global economy is navigating a multi-speed reality where traditional indicators mask radical sectoral transformations. While headline growth appears stable at 3.0% (IMF), beneath the surface we witness the most significant capital...
Global Trade Wars and the Steel Industry: Europe’s Hidden Fault Lines

Global Trade Wars and the Steel Industry: Europe’s Hidden Fault Lines

Global Context In the autumn of 2025, the global industrial order stands at a crossroads between trade confrontation and ecological transition. Rivalries between the United States, China, and, increasingly, the European Union are reshaping economic balances. Steel,...