10:59 - 11.09.2024

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September 11, Fineko/abc.az. Fitch Ratings has raised its forecast on global economic growth this year up to 2.7% (0.1 percentage points more than the June forecast).

ABC.AZ reports that Fitch revised the U.S. growth forecast for 2024 to 2.5% from 2.1% in June, forecasts for the UK, Brazil and Russia were also revised upwards.

"We expect global GDP growth to slow to 2.5% in 2025 as U.S. growth falls to 1.6% amid fading fiscal momentum and a gradual slowdown in consumption as household incomes slow. Federal Reserve's easing cycle will finally begin, but rates will remain restrictive next year, and the impact of rate cuts on growth will be small," the agency writes.

It also expects China's growth to slow next year to 4.5% from 4.8% this year. But eurozone growth should recover to 1.5% in 2025 from 0.8% this year. This mainly reflects the impact of the real wage recovery on consumption, which has been weak since 2022.