The Boardroom Forecast: Reflections from July 2025 Economic Outlook

Boardroom Forecast Episode #3

In times of uncertainty, leaders need more than headlines. They need clarity. The Boardroom Forecast is a new audio-only podcast from Board designed for executives who want to cut through the noise and make confident, informed decisions.

Each episode explores the forces shaping enterprise performance, with expert analysis from Board’s economists, strategists, and planners.

In Episode three:

Board principal economist Natalie Gallagher’s July 2025 economic outlook reveals a stark reality: the US is heading toward a prolonged slowdown extending through 2026, with manufacturing already in contraction.

In this episode, we explore the key signals driving this forecast and what it means for business leaders. You’ll hear how manufacturing weakness (PMI at 48.5), tightening consumer budgets, and contradictory policy signals are creating a challenging environment for strategic planning.

We examine why that recent durable goods spike was misleading—driven by one-off orders, not sustained investment—and how businesses can adapt their operations for an economy where meaningful rebound looks unlikely in the near term.