Grading Our 2025 Annual Forecast

At a time when forecasts are plentiful and certainty is often overstated, we strongly believe that publishing a transparent record of our accuracy is essential. This annual scorecard is a candid internal assessment of what we forecast accurately, where we missed the mark and where events unfolded in ways that challenged our underlying assumptions. This exercise is not performative. While we will celebrate our successes and further critique our missteps, the goal of this assessment is to sharpen our analytic discipline and inform the forecast for the year ahead....