The effects of the tariff war lower the estimates for the United States by six tenths of a percentage point and for the European Union by three tenths of a percentage point.
In the last quarter of the year, the European Average Payment Delay (APD) stood at 12.17 days, which represents a slight increase of 0.06 days compared to last year. Throughout 2024, the European APD reached its lowest level since 2011, with 11.89 days in the first quarter.
The recent rapid increase in the number of bankruptcies also has its good side: Among the companies that had to give up, many were zombie companies that were only able to survive for so long thanks to special circumstances and that damaged the economy.
Malaysia appears to have finally entered calmer political waters after experiencing significant political turbulence since 2018. It is also on course to transition from entrenched dominant-party rule to a competitive, multi-party democracy.
Ireland faces a number of well established, domestic economic constraints going into 2025, in the form of a housing crisis, public infrastructural deficits, planning difficulties, skill shortages and certain vulnerable sectors; such as hospitality. But, for every business failure in Ireland, 27.5 new businesses are being founded – a remarkable ratio of success.