{"id":55667,"date":"2026-05-13T10:41:26","date_gmt":"2026-05-13T08:41:26","guid":{"rendered":"https:\/\/amec.es\/global-economic-and-trade-outlook-may-2026\/"},"modified":"2026-05-13T12:06:28","modified_gmt":"2026-05-13T10:06:28","slug":"global-economic-and-trade-outlook-may-2026","status":"publish","type":"page","link":"https:\/\/amec.es\/en\/global-economic-and-trade-outlook-may-2026\/","title":{"rendered":"Global economic and trade outlook (May 2026)"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"55667\" class=\"elementor elementor-55667 elementor-55660\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4cd94da6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4cd94da6\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6cd942fc\" data-id=\"6cd942fc\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-18e0bc16 elementor-widget elementor-widget-heading\" data-id=\"18e0bc16\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/amec.es\/en\/category\/exclusive-alerts-and-trends\/\" rel=\"tag\">Exclusive alerts and trends<\/a><\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-33231273 elementor-widget elementor-widget-spacer\" data-id=\"33231273\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10a155c6 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"10a155c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-729c5a95 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"729c5a95\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-15e36e45\" data-id=\"15e36e45\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4ce91334 elementor-widget elementor-widget-heading\" data-id=\"4ce91334\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Global economic and trade outlook (May 2026)<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2365276a elementor-widget elementor-widget-spacer\" data-id=\"2365276a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7643de62 elementor-widget elementor-widget-text-editor\" data-id=\"7643de62\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t13 de May de 2026\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5c34ccc7 elementor-widget elementor-widget-text-editor\" data-id=\"5c34ccc7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Two months after the start of the conflict in the Persian Gulf, the closure of the Strait of Hormuz continues to dominate the global economic environment. Manufacturing PMIs are rebounding, but preemptive stockpiling artificially inflates activity as costs hit multi-year highs. The immediate risk is concentrated on three fronts: cost inflation, logistical disruptions and uncertain final demand.  <\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-75d44e50 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"75d44e50\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc894d4 elementor-widget elementor-widget-text-editor\" data-id=\"bc894d4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h5><strong>Global macroeconomic environment<\/strong><\/h5><p>Despite a strong start to 2026, <strong>the conflict in the Middle East creates a real risk of an energy shock.<\/strong> In the IMF&#8217;s baseline scenario, which assumes a relatively rapid normalization, global GDP growth is projected to be close to 3% for the year as a whole, with headline inflation likely to rise by around 0.3 percentage points. More adverse scenarios would push the world economy into stagflation. <\/p><p><strong>The US is facing the shock with an advantage<\/strong>: its GDP grew by 0.5% quarter-on-quarter in Q1 2026, supported by fixed capital investment (driven by AI) and private consumption. US PMIs for April improved in both manufacturing and services. Nonetheless, headline inflation reached 3.3% in March, with risk of further increases.  <\/p><p>China remained dynamic with growth of 1.3% quarter-on-quarter (5.0% year-on-year) in the first quarter, although its domestic demand remains fragile. <strong>India is the world&#8217;s most dynamic market<\/strong>, with the highest rate of economic activity. <strong>Brazil<\/strong> recorded the strongest rebound in more than a year. <strong>Turkey<\/strong>, on the other hand, is at the bottom of the global ranking. <\/p><p>By sector, the overall picture is also mixed. <strong>Pharmaceuticals and biotechnology<\/strong> lead global production growth in April, followed by machinery and equipment. In Europe, the automotive and components sector leads expansion for the second consecutive month, with the strongest growth rate in three years. <\/p><h5><strong><span style=\"color: #ffffff;\">_<\/span><br\/>Euro Zone and Spain: most affected<\/strong><\/h5><p>The Eurozone is the region hardest hit by the conflict, according to PMI data from S&#038;P Global. In April, composite activity fell for the first time in 16 months, dragged down by the slump in services<strong>.Eurozone manufacturing offers a seemingly positive reading<\/strong>: the manufacturing PMI rose to 52.2 in April, but the indicator itself warns that growth is artificial, driven by advance buying and stockpiling of inventories. <\/p><p>Manufacturers&#8217; selling price inflation in April recorded the largest monthly increase since the Eurozone PMI survey has been available. Since February, <strong>the purchasing price index has risen 19 points<\/strong>. Business optimism for the next twelve months fell to its lowest level since November 2024.  <\/p><p>By country, <strong>Germany<\/strong> grew by 0.3% in the first quarter, but infrastructure spending remains 14% below the level of a year ago and the government has halved its growth forecast for 2026 to 0.5%. <strong>France<\/strong> stagnated even before the conflict, and <strong>Italy<\/strong> is particularly hard hit by rising energy prices as fossil fuels generate almost half of its electricity.<\/p><p><strong>Spain shows remarkable resilience.<\/strong>  GDP grew by 0.6% quarter-on-quarter in the first quarter of 2026 (2.7% year-on-year), supported by private consumption and investment. Headline inflation moderated in April thanks to lower electricity prices. In the manufacturing sector, the Spanish PMI rebounded strongly to 51.7 in April (the highest since July 2025), driven, as in the rest of Europe, by customer stockpiling. <\/p><h5><strong><span style=\"color: #ffffff;\">_<\/span><br\/>Cost alert: energy, raw materials and transportation<\/strong><\/h5><p>This is the section with the greatest impact for industrial manufacturers in the short term. <strong>April saw the largest increase in input costs since June 2022<\/strong>. All countries for which data is available recorded cost increases. S&#038;P Global&#8217;s commodity indicators confirm that all 25 products monitored showed above-average price pressures in April, which is unprecedented outside the pandemic.  <\/p><p><strong>Oil is the central element<\/strong>: reported shortages reach ten times the usual level. Global transportation costs reached a record high for the entire series in April, reflecting fuel surcharges and skyrocketing ocean freight rates. <\/p><p>The GEP supply chain volatility index jumped from 0.57 in March to 1.64 in April, its highest level since October 2022, with Asia as the most affected region and Europe as the most aggressively stockpiling inventories.<\/p><p>For companies in industrial sectors exposed to plastics raw materials, metals, electronic components or packaging, the signal is unmistakable: <strong>PVC, polymers and semiconductors are at<\/strong> multi-year <strong>highs<\/strong> in terms of shortages and prices. Supplier lead times lengthened in April to the greatest extent since August 2022. <\/p><h5><strong><span style=\"color: #ffffff;\">_<\/span><br\/>International logistics: the Strait of Hormuz and the reconfiguration of routes<\/strong><\/h5><p>Two months after the start of the conflict, <strong>42 container ships of major shipping lines are still immobilized in the Persian Gulf<\/strong>. Two MSC vessels have been seized by Iranian authorities. Only COSCO has managed to extract two vessels through second transit attempts. The number of vessels in daily transit dropped to practically zero.   <\/p><p>The market is undergoing a logistical reconfiguration. <strong>MSC and Maersk have deployed land corridors through Saudi Arabia<\/strong> connecting the Gulf with Red Sea ports (Jeddah, King Abdullah). Alternative ports such as Khor Fakkan (UAE), Salalah (Oman) and Aqaba (Jordan) have multiplied their bookings. Jeddah quadrupled its import bookings in April. The Asia-Europe peak season has been brought forward to the second quarter.   <\/p><p>The Drewry World Container Index rose 3% in the week to May 7 after three weeks of declines, with Transpacific up on bunker surcharges (PSS) and emergency surcharges (EFS) applied by CMA CGM and MSC. For the Asia-Northern Europe route, effective capacity will fall by 3% month-on-month in May and by up to 10% on the Asia-Mediterranean route. The outlook points to a further increase in freight rates in the second half of May, with the market severely short of vessels.  <\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-15805f9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"15805f9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7a4a5629\" data-id=\"7a4a5629\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6a284c0 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"6a284c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f2b7ac3 elementor-widget elementor-widget-heading\" data-id=\"f2b7ac3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">More information at CoLAB<\/h5>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-70dc2211 e-grid e-con-boxed e-con e-parent\" data-id=\"70dc2211\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-2dbad762 elementor-widget elementor-widget-image\" data-id=\"2dbad762\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/amec.es\/comunidad\/colab\/\">\n\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"295\" src=\"https:\/\/amec.es\/wp-content\/uploads\/2025\/11\/Banner-Nota-commodities-1-1024x377.png\" class=\"attachment-large size-large wp-image-43474\" alt=\"\" srcset=\"https:\/\/amec.es\/wp-content\/uploads\/2025\/11\/Banner-Nota-commodities-1-1024x377.png 1024w, https:\/\/amec.es\/wp-content\/uploads\/2025\/11\/Banner-Nota-commodities-1-300x110.png 300w, https:\/\/amec.es\/wp-content\/uploads\/2025\/11\/Banner-Nota-commodities-1-768x283.png 768w, https:\/\/amec.es\/wp-content\/uploads\/2025\/11\/Banner-Nota-commodities-1-600x221.png 600w, https:\/\/amec.es\/wp-content\/uploads\/2025\/11\/Banner-Nota-commodities-1.png 1280w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20875eda elementor-widget elementor-widget-image\" data-id=\"20875eda\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/amec.es\/comunidad\/colab\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"800\" height=\"295\" src=\"https:\/\/amec.es\/wp-content\/uploads\/2026\/01\/Banner-Indicadores-adelantados-amec-1024x377.png\" class=\"attachment-large size-large wp-image-45857\" alt=\"\" srcset=\"https:\/\/amec.es\/wp-content\/uploads\/2026\/01\/Banner-Indicadores-adelantados-amec-1024x377.png 1024w, https:\/\/amec.es\/wp-content\/uploads\/2026\/01\/Banner-Indicadores-adelantados-amec-300x110.png 300w, https:\/\/amec.es\/wp-content\/uploads\/2026\/01\/Banner-Indicadores-adelantados-amec-768x283.png 768w, https:\/\/amec.es\/wp-content\/uploads\/2026\/01\/Banner-Indicadores-adelantados-amec.png 1280w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-26f725fc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"26f725fc\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-238beee5\" data-id=\"238beee5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3fd27f93 elementor-widget elementor-widget-spacer\" data-id=\"3fd27f93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7e8932cb elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7e8932cb\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-1a4077ea\" data-id=\"1a4077ea\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2264c6ee elementor-widget elementor-widget-heading\" data-id=\"2264c6ee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Contact us for more information! <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b794d4c elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"5b794d4c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-46b4a4f6 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"46b4a4f6\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-23f8bc08\" data-id=\"23f8bc08\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-57b1eb54 elementor-widget elementor-widget-image\" data-id=\"57b1eb54\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"380\" height=\"250\" src=\"https:\/\/amec.es\/wp-content\/uploads\/2023\/07\/susana-gonzalez-3-r-2-redim-prop66-w380-h250.jpg\" class=\"attachment-large size-large wp-image-46386\" alt=\"\" srcset=\"https:\/\/amec.es\/wp-content\/uploads\/2023\/07\/susana-gonzalez-3-r-2-redim-prop66-w380-h250.jpg 380w, https:\/\/amec.es\/wp-content\/uploads\/2023\/07\/susana-gonzalez-3-r-2-redim-prop66-w380-h250-300x197.jpg 300w\" sizes=\"(max-width: 380px) 100vw, 380px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-38787829\" data-id=\"38787829\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-128365bd elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"128365bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-user-circle\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Susana 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height=\"853\" src=\"https:\/\/amec.es\/wp-content\/uploads\/2025\/02\/Segell-Agents-de-Suport-a-la-Internacionalitzacio-Superior.png\" class=\"attachment-large size-large wp-image-34733\" alt=\"\" srcset=\"https:\/\/amec.es\/wp-content\/uploads\/2025\/02\/Segell-Agents-de-Suport-a-la-Internacionalitzacio-Superior.png 778w, https:\/\/amec.es\/wp-content\/uploads\/2025\/02\/Segell-Agents-de-Suport-a-la-Internacionalitzacio-Superior-274x300.png 274w, https:\/\/amec.es\/wp-content\/uploads\/2025\/02\/Segell-Agents-de-Suport-a-la-Internacionalitzacio-Superior-768x842.png 768w, https:\/\/amec.es\/wp-content\/uploads\/2025\/02\/Segell-Agents-de-Suport-a-la-Internacionalitzacio-Superior-600x658.png 600w\" sizes=\"(max-width: 778px) 100vw, 778px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-b1fc889 e-con-full e-flex e-con e-child\" data-id=\"b1fc889\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-17df35f9 elementor-widget elementor-widget-text-editor\" data-id=\"17df35f9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/www.accio.gencat.cat\/ca\/accio\/processos-acreditacio\/agents-suport-internacionalitzacio\/\"><span data-olk-copy-source=\"MessageBody\">ACCI\u00d3 accredited agent<\/span><\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-646f3457 e-con-full e-flex e-con e-child\" data-id=\"646f3457\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Two months after the start of the conflict in the Persian Gulf, the closure of the Strait of Hormuz continues to dominate the global economic environment. Manufacturing PMIs are rebounding, but preemptive stockpiling artificially inflates activity as costs hit multi-year highs. The immediate risk is concentrated on three fronts: cost inflation, logistical disruptions and uncertain [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_canvas","meta":{"inline_featured_image":false,"footnotes":""},"categories":[355],"tags":[],"class_list":["post-55667","page","type-page","status-publish","hentry","category-exclusive-alerts-and-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Global economic and trade outlook (May 2026) | amec Positive Industry<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/amec.es\/en\/global-economic-and-trade-outlook-may-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global economic and trade outlook (May 2026) | amec Positive Industry\" \/>\n<meta property=\"og:description\" content=\"Two months after the start of the conflict in the Persian Gulf, the closure of the Strait of Hormuz continues to dominate the global economic environment. Manufacturing PMIs are rebounding, but preemptive stockpiling artificially inflates activity as costs hit multi-year highs. 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