Article
Global Economic Outlook for Q3 2026: Growth Tested by Energy and Trade Shocks
The Strait of Hormuz blockage is the defining economic shock of 2026, disrupting a critical energy corridor and driving oil prices sharply higher. Alongside higher tariffs, rising energy costs have weakened global growth by squeezing household purchasing power and corporate margins. Energy importers face the largest impact; exporters and economies with diversified supply, resilient domestic demand or effective subsidies are better placed to absorb it.
