Fitch Ratings raised forecast of 2023 global economic growth by 0.1 ppt to 2.5%, cut China forecast by 0.8 ppt to 4.8%
MACRO VIEWS & ANALYSIS
Fitch Ratings raised forecast of 2023 global economic growth by 0.1 ppt to 2.5%, cut China forecast by 0.8 ppt to 4.8%
MACRO VIEWS & ANALYSIS

Fitch Ratings raised forecast of 2023 global economic growth by 0.1 ppt to 2.5%, cut China forecast by 0.8 ppt to 4.8%

 

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Fitch Ratings raised the forecast of global economic growth for 2023 by 0.1 percentage point to 2.5%, reflecting the resilience of the economy in the US, Japan and emerging markets excluding China.

It raised its forecast for US economic growth by 0.8 percentage point to 2%, Japan by 0.7 percentage point to 2%, and emerging markets excluding China by 0.5 percentage point to 3.4%. 

That offsets a 0.8 percentage point cut in China’s economic growth forecast to 4.8% and a 0.2 percentage point cut in the Eurozone’s economic growth forecast to 0.6%.

Fitch lowered its 2024 global growth forecast by 0.2 percentage point to 1.9%. Of these, the growth forecast of the US was lowered by 0.2 percentage point to 0.3%, the Eurozone by 0.3 percentage point to 1.1%, China by 0.2 percentage point to 4.6%, and emerging markets ex-China by 0.2 percentage point to 3%.