world-economy

Global Growth Showing Signs of Resilience as Energy Crisis Fears Ease

Commodity markets and emerging economies are signaling resilience as geopolitical tensions stabilize. Aluminum prices surged to three-week highs following signs a U.S.-Iran truce will hold, easing concerns about prolonged energy disruptions weighing on global growth. Indonesia's economy expanded to a three-year high of 5.6% in the first quarter, buoyed by record government spending that helped offset energy sector headwinds. Chile's government expects growth slightly above 2% this year as it pursues pro-investment reforms despite fuel price impacts from the regional conflict. However, weakness is emerging in labor-dependent economies. Philippine remittances grew at a nearly three-year low in March, reflecting softer demand in major overseas employment markets tied to the energy crisis. The mixed signals suggest some regions are weathering the disruption better than others.