The Decisive Podcast: Insights and analysis to empower confident decision-making.

In this May 2026 episode of The Decisive Podcast, S&P Global Market Intelligence economists Paul Smith, Eleanor Dennison, and Andrew Harker dissect the latest Purchasing Managers' Index (PMI) data to reveal how ongoing geopolitical tensions in the Middle East are reshaping the global economic landscape. The team explores the ripple effects of supply chain disruptions, energy price surges, and heightened uncertainty on both manufacturing and service sectors across key regions.
Listeners will gain a comprehensive overview of the J.P. Morgan Global Composite PMI, highlighting modest growth in business activity alongside mounting inflationary pressures. The episode explores the eurozone's contrasting sector performance, with manufacturing buoyed by precautionary stockpiling and services facing contraction amid record-high uncertainty. Andrew Harker provides granular insights into commodity price movements, supply shortages, and the nuanced pass-through of costs in Asian economies, while Eleanor Dennison offers a deep dive into eurozone trends and the qualitative evidence from PMI panelists.
Tune in for expert analysis on stagflation risks, the challenges of forecasting in volatile times, and the critical role of PMI data in navigating economic turning points. Whether you're tracking inflation, supply chains, or global business sentiment, this episode delivers timely intelligence for decision-makers.
More S&P Global Market Intelligence Content:
PMI data and commentary
Banking Risk Monthly Outlook: May 2026
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Middle East war
Policy rate prospects
Credits:
Host: Paul Smith
Guests: Andrew Harker, Eleanor Dennison
Produced By: Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive, host Kristen Hallam explores the murky world of maritime identity manipulation—a growing threat that's reshaping global shipping, sanctions enforcement, and international trade. Joined by maritime risk and compliance expert Jeremy Domballe, Kristen unpacks how vessels can alter their digital, physical, and legal identities to operate undetected on the world's oceans.
From "zombie ships" reusing the identities of long-scrapped vessels to the physical "whitewashing" of ship names, Kristen and Jeremy reveal the methods bad actors use to evade sanctions, access restricted markets, and profit from illicit trade. They also examine the risks this deception poses to financial institutions, insurers, ship owners, and governments—highlighting why trust in vessel identity is foundational to the entire maritime ecosystem.
Listeners will gain insight into the latest trends in ID spoofing, including the manipulation of AIS signals, GNSS jamming, and unintentional identity errors that can create confusion across continents. The episode concludes with practical guidance on due diligence, technological countermeasures, and the importance of vigilance for anyone exposed to the maritime domain.
Discover why, in today's shipping world, not every vessel is what it seems—and what you can do to stay one step ahead.
More S&P Global Market Intelligence Content:
Transshipment: Frequently Asked Questions
Port Congestion Analysis: Northeast Asia and Southeast Asia main hubs
Maritime Chokepoints Tighten, Global Supply Chain Risk Rises
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Middle East war
Truck trade: Hybrid routes provide Hormuz alternatives for containers, fertilizers
Credits:
Host: Kristen Hallam
Guest: Jeremy Domballe
Produced By: Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun

The global economy is facing its weakest growth outlook since 2009. What happens when geopolitical conflict collides with an already fragile energy market?
In this episode of The Decisive, we examine the cascading macroeconomic impacts of recent global disruptions and the resulting negative supply shocks that have forced economists to revise their forecasts. With global real GDP growth downgraded to just 2.4% and inflation projections rising due to energy and food prices, the economic divide between oil-exporting and oil-importing nations is becoming ever more pronounced.
What You'll Learn:
The Macro Outlook
Discover why growth forecasts have been lowered and what our base-case assumption of $100/barrel oil means for the delicate balance between controlling inflation and avoiding recession.
The Great Divide
Explore the stark contrast in economic fortunes: Energy exporters like Saudi Arabia and the UAE are weathering the storm, while highly vulnerable importers such as India, Egypt, and the Philippines face more acute macroeconomic pressures.
Central Bank Dilemmas
Understand how major central banks worldwide are navigating the difficult choice between taming persistent inflation and preventing an economic downturn—and why their responses could determine the trajectory of the global economy.
Beyond the Barrel
Uncover the hidden vulnerabilities in global supply chains, from refined fuels and fertilizers to the unexpected fallout in non-oil sectors like tourism, logistics, and real estate across the Middle East and Asia Pacific.
Regional Deep Dives
Get detailed analysis of how the Middle East and North Africa (MENA) and Asia Pacific (APAC) regions are experiencing these shocks differently, with vulnerability indices revealing which countries face the greatest macro-financial risks.
Join our experts for a comprehensive, data-driven breakdown of vulnerabilities, inflation dynamics, and macroeconomic risks defining the global economy today. 
More S&P Global Market Intelligence Content:
Global Economic Outlook: April 2026
Picture This: What Middle East Supply Disruptions Mean for the Asia-Pacific Region
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Middle East war
Global Executive Summary
Credits:
Host: Ken Wattret
Guests: Ralf Wiegert, Hanna Luchnikava-Schorsch, Diego Iscaro, Ben Herzon
Produced By: Debbie Taylor, Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun

As pivotal elections approach in the United States, Brazil, and Ethiopia, global businesses are navigating a rapidly evolving landscape of risks and opportunities. In this episode of The Decisive Podcast, host Kristen Hallam is joined by S&P Global Market Intelligence experts John Raines (Head of North America Country Risk), Rafael Amiel (Head of Latin America Economics), and Jordan Anderson (Principal Analyst, Sub-Saharan Africa Country Risk) to examine how political outcomes through 2026 will influence government stability, economic policy, and geopolitical risk well into 2027 and beyond.
Listeners will gain exclusive insights into potential market volatility as the panel explores the implications of the U.S. midterms, Brazil's presidential race, and Ethiopia's general elections. The discussion covers how shifting political dynamics may impact trade, supply chains, regulatory frameworks, and fiscal strategies—key considerations for multinational corporations and investors.
Key topics include:
Election outlooks in the U.S., Brazil, and Ethiopia and their impact on government stability
Fiscal and monetary policy risks in Brazil and the U.S.
Geopolitical and security risks in Ethiopia, including implications for regional stability and foreign investment
Trade negotiations and the strategic role of commodities in Brazil's foreign policy
Key indicators to monitor ahead of major elections for early risk detection
More S&P Global Market Intelligence Content:
Geopolitical Risk Brief: April 2026
Russia-Ukraine War: Three Conflict Development Pathways in the Next 12 Months
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Global Executive Summary: Conflict-related economic fallout to continue
Middle East war
Currency outlooks
Credits:
Host: Kristen Hallam
Guests: John Raines, Rafael Amiel, Jordan Anderson
Produced By: Debbie Taylor, Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun

In this episode of The Decisive Podcast, host Kristen Hallam is joined by S&P Global Market Intelligence economist Yan Hoong for an outlook on the electronics and semiconductor landscape through 2026—taken from a March 12 client webinar. 
Yan explains why memory remains a big source of procurement and pricing anxiety, with tightness persisting in both advanced and conventional memory as suppliers shift capacity toward higher-end products. Yan unpacks how this constraint is already spilling into downstream categories like computers and communications equipment, and why price pressure could linger until new capacity meaningfully comes online in late 2027 to 2028. 
The conversation also broadens beyond AI hype: while AI and data centers continue to pull demand (especially for high-bandwidth memory and advanced DRAM), Yan points to a gradual recovery in the broader electronics cycle, with mixed signals across end markets. Aerospace and defense and AI-led infrastructure stand out as growth areas, while consumer electronics and automotive remain softer, reinforced by slowing light vehicle production and divergent PMI new order trends. 
Finally, Yan breaks down the January 2026 Section 232 tariff announcement, outlining how its pricing impact on US semiconductors may be limited due to narrow scope and broad exemptions for domestic use, with exposure more concentrated in re-export pathways. The episode closes by connecting pricing dynamics across regions—highlighting how memory-heavy supply chains are driving sharper producer price escalation in places like South Korea—while legacy components remain comparatively stable.
More S&P Global Market Intelligence Content:
Electronics Supply Chain Outlook
Click here for our special report on the impact of the Middle East war on commodity prices
Click here to access our webinar on powering AI infrastructure in a volatile world
Subscribe to our Supply Chain Essentials newsletter.
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Commodity Price Watch Monthly (full report)
Purchasing Environment
US tariff plans
Credits:
Host: Kristen Hallam
Guest: Yan Hoong
Produced By: Debbie Taylor, Kristen Hallam
Edited By: Marz Marcello
Published With Assistance From: Sophie Carr, Feranmi Adeoshun