Daily Update: Sustainable Markets Initiative; Public-to-Private Challenges; and US Economic Slowdown

Today is Wednesday, March 12, 2025, and here’s your?curated selection of essential intelligence on global markets from?S&P Global.?Subscribe to be notified of each new Daily Update.

Energy Transition & Sustainability

Listen: How the Sustainable Markets Initiative convenes the public and private sectors to drive solutions

As part of the new Terra Carta series, the “All Things Sustainable” podcast will interview Sustainable Markets Initiative (SMI) member CEOs from around the world and across industries about how they are approaching sustainability challenges and opportunities.?

The SMI is a network of over 250 global CEOs across finance and other industries. It facilitates private sector diplomacy with the ambition of making sustainability the driving force of global markets and value creation. S&P Global is a proud SMI member. In this first episode, hear from SMI CEO Jennifer Jordan-Saifi ahead of the organization’s March 10–11 fifth anniversary event in London.??

Learn more about transition opportunities with specialist opinions, market outlooks, data insights and strategic forums at the Sustainable1 Summit.

Private Markets

Macro outlook clouds surging private equity take-private activity

Public-to-private transactions may face challenges due to uncertain macroeconomic conditions in 2025. The global value of private equity- and venture capital-backed take-private deals grew 32% year over year to about $150 billion in 2024. It was the highest annual total recorded in at least five years.

?"The risk that I'm hearing people are most concerned about is the volatility in the market and the macroeconomic environment, the sense that people don't know whether there are going to be tariffs applicable to them that will impact their businesses," said Christian Westra, a partner in Ropes & Gray's private equity transactions group.

Economy

US economic growth falters, goods prices spike higher in February flash data

February's flash Purchasing Managers' Index (PMI) surveys showed a sharp slowdown in US business growth and rising goods prices. The weaker expansion was largely attributed to the uncertainty caused by recent policy initiatives. For example, tariffs were viewed as one of the key reasons behind higher prices in the manufacturing sector. Despite the higher prices, US manufacturers reported accelerating growth in February, marking the largest monthly rise in output in nearly a year.?

According to the PMI data, the US was the fastest-growing major developed economy toward the end of 2024 and into January, but its expansion slowed significantly in February. The rate was weaker than that of Japan and the UK, and only marginally above the eurozone.

Monitor the health of global economies and anticipate changing market trends with the Purchasing Managers’ Index.?

In case you missed it

• The US decided it will not renew power sanctions waivers that Iraq has relied on for years to import electricity from Iran.
• India's first crude import deal with Argentina in eight years is set to pave the way for more purchases from the South American nation, as both countries seek to boost energy ties.
• The ongoing trade dispute between the US and Canada is set to drive further volatility in the Canadian wheat market, with farmers and exporters having to adjust to higher costs and shifting trade flows.

Upcoming events

• Talk to the Specialists - An AI-fueled resurgence story – US datacenters and nuclear energy outlook?| March 18 (Webinar)
• The 2024 Top Banks & Credit Unions Ranking Release Live?| March 18 (Webinar)
• Asia-Pacific Corporate & Infrastructure Outlook Virtual Conference 2025 | March 19 (Virtual Conference)?
• Sustainable1 Summit 2025?| April 30 (In-person: London)