ICYMI - Fitch Ratings "deep and wide cuts to global GDP forecasts"

[forex4you]

ICYMI - Fitch Ratings "deep and wide cuts to global GDP forecasts"

<p>Fitch rating agency issued its latest Global Economic Outlook (GEO) on Wednesday.</p><p>Highlights (not the right word, but still):</p><ul><li>expects world GDP to grow by 2.4% in 2022 - revised down by 0.5pp since the June GEO - and by just 1.7% in 2023, a cut of 1% </li><li>eurozone and UK are now expected to enter recession later this year </li><li>the US will suffer a mild recession in mid-2023</li><li>"We've had something of a perfect storm for the global economy in recent months, with the gas crisis in Europe, a sharp acceleration in interest rate hikes and a deepening property slump in China" </li><li>The forecast now assumes a full or near complete shut-off of n pipeline gas to Europe. </li></ul><p>---</p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: ICYMI - Fitch Ratings "deep and wide cuts to global GDP forecasts"

forexlive.com