Fitch international rating agency published a forecast of world economic growth in 2023. "Daryo" drew some conclusions from it:
The removal of Covid-19 restrictions in China, the significant easing of the gas crisis in Europe, as well as the unexpected stability of consumer demand in the USA were cited as positive factors.
According to Fitch's new forecast, the global GDP will increase by 2% in 2023 instead of 1.4% as expected in December.
The growth forecast for the Chinese economy this year has increased from 4.1% to 5.2%, the Eurozone - from 0.2% to 0.8%, and the US - from 0.2% to 1%.
At the same time, Fitch lowered its global GDP growth forecast for 2024 from 2.7% to 2.4%.
This is due to the delayed effect of the rapid increase in key interest rates by the Federal Reserve System and the European Central Bank, the report says.
According to the agency's experts, imbalances in the labor market, which are the source of wage growth, are not decreasing.
Fitch expects the Fed rate to peak at 5.5% and the ECB's benchmark lending rate at 4%, which rates will reach in June.
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