Global Scans · Economy · Weekly Summary

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DRIVER: The global economy still faces serious headwinds and political uncertainty potentially balanced by the enormous promise of technological advancements in many fields. Read on to get a solid handle on the opportunities and risks you and your organization may likely face and set your sails accordingly.

• [New] An opinion that is supported by figures from the World Economic Forum and McKinsey: Both estimate the global space economy will be worth US$ 1.3 trillion by 2035, up from US$ 630 billion in 2023. DE-CIX - we make interconnection easy. Anywhere.
• [New] We are forecasting continued growth for Australian horticulture, with record production value of $19 billion in 2025-26. FTA Freight & Trade Alliance
• [New] We are forecasting 2025-26 Australian agricultural production to reach $90.7 billion in value ($97.5 billion including fisheries and forestry production), the third highest on record. FTA Freight & Trade Alliance
• [New] On the oil side, Adnoc plans to raise crude oil production capacity to 5 million barrels per day by 2027, a target it has already almost achieved. The National
• [New] The biggest single production increment will come from the giant Ghasha offshore development, which has now been expanded to 1.8 billion cubic feet per day from 1.5 Bcfd, due fully on-stream by 2028. The National
• [New] Adnoc's gas subsidiary expects UAE consumption to rise at 4-5 per cent per year up to 2030. The National
• [New] Milk receipts are projected to rise by $1.4 billion, increasing from $50.8 billion in 2024 to $52.1 billion in 2025, supported by stronger prices and increased production. American Farm Bureau Federation
• [New] Corn receipts are expected to drop by $2.7 billion from $63.4 billion in 2024 to $60.7 billion in 2025, with both prices and quantities sold trending downward. American Farm Bureau Federation
• [New] Despite the strong farm income forecast, cash receipts from commodity sales are expected to fall slightly in 2025, declining by $1.8 billion from 2024's projected $516.8 billion to $515 billion. American Farm Bureau Federation
• [New] Emerging Markets: Developing economies, specifically in Asia-Pacific and Africa, offer tremendous growth opportunities for Agritech solutions due to the large agrarian population. extrapolate.com
• [New] The ecosystem is set to produce 4.7 million tonnes per annum of industrial chemicals and will be one of the largest integrated chemical platforms in the Gulf region which, together with ADNOC's other chemicals projects, will expand chemicals production capacity to 11 mtpa by 2028. tradearabia
• [New] We expect the combination of looser fiscal policy and standpat monetary policy (while the Fed cuts) will help the Canadian dollar perform better next year. Marc to Market
• [New] Still, with the eurozone economy struggling to sustain growth over 1% year-over-year in the coming quarters, and inflation threatening to slip below 2% in the coming months, the risk of a rate cut in H1 2026 should not be entirely ruled out. Marc to Market
• [New] A surprisingly strong employment report, paired with stickier-than-expected inflation, has swung consensus the other way: the Reserve Bank of Australia is now widely seen as having wrapped up its easing cycle for this year. / Australia Marc to Market
• [New] China's economic weight and the wider reach of CIPS (120+ countries) may raise concerns that BRICS Pay could effectively become China-led, making others more cautious. Drishti IAS
• [New] OpenAI will use the cloud computing resources for ChatGPT, while Anthropic will get access to up to one million of Google's custom TPUs, which is gaining momentum as a viable alternative that challenges Nvidia's dominance. Moneycontrol
• [New] For the first time in world history, people could accumulate capital and become rich not from trade or banking primarily, but from investing in production itself. Persuasion
• [New] The consumer segment is expected to overtake the enterprise segment in the developed economies of North America and Europe. Communications Today
• [New] If there's an upside to record-high beef prices, it might be found in the B.C. vancouversun
• [New] The global annual production of plastics rose to 400 million metric tons in 2022 and is projected to double by 2050. Live Science
• [New] India leads the global growth path and is projected to expand to USD 35.5 billion by 2030 at a CAGR of 13.4%, driven by rising demand in the education sector, packaging consumption, e-commerce, and organized retail. Machine Maker - Latest Manufacturing News | Indian Manu
• [New] The global space economy is set to grow manifold, representing a very significant opportunity for India's youth. The Hindu
• [New] Financial heavyweight JP Morgan has issued some of the most bullish forecasts yet, projecting gold prices could reach $6,000 per ounce by 2028, with an average of $5,055 by the end of 2026. Grand Pinnacle Tribune

Last updated: 02 December 2025