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The worldwide GDP growth prediction was downgraded by 0.4 percentage points from the March assessment, falling below 2 per cent. Fitch stated in a press announcement that this marks the worst outcome for the global economy since 2009, not including the coronavirus pandemic phase.
GDP growth projections for the US and China have been downgraded by 0.5 percentage points, now at 1.2% and below 4% respectively. In the States, though, growth is anticipated to steadily decelerate to only 0.4% on an annual basis in the fourth quarter. In 2026, the Chinese economy is expected to expand by less than 4%.
The economy of the Eurozone is anticipated to expand ‘significantly slower’ than 1%.
Besides, Fitch analysts reduced their prediction for Brent crude oil prices for this year by $5 to $65 per barrel.
source: tradingeconomics.com
GDP growth projections for the US and China have been downgraded by 0.5 percentage points, now at 1.2% and below 4% respectively. In the States, though, growth is anticipated to steadily decelerate to only 0.4% on an annual basis in the fourth quarter. In 2026, the Chinese economy is expected to expand by less than 4%.
The economy of the Eurozone is anticipated to expand ‘significantly slower’ than 1%.
Besides, Fitch analysts reduced their prediction for Brent crude oil prices for this year by $5 to $65 per barrel.
source: tradingeconomics.com
