Daily Management Review

Fitch raises 2023 global GDP growth forecast to 2.5%


The 2024 estimate was downgraded to 1.9%.

International rating agency Fitch revised up the forecast for the global GDP growth for 2023 from 2.4% to 2.5%.

The forecast for global economic growth in 2024 has also declined, from 2.1% to 1.9%.

The most recent Global Economic Outlook stated that "the global economy is likely to grow stronger in 2023 than we expected in June." "However, the chances for a global recovery are dimmed by a worsening real estate crisis in China, and the picture for demand in the United States and Europe is becoming more and more clouded by monetary tightening."

According to the agency's experts, the surprising flexibility of the economies of the U.S., Japan, and emerging markets outside of China is reflected in the improvement in the global GDP growth prediction for this year.

source: ft.com