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Fitch downgrades 2022 global GDP growth forecast to 2.9% from 3.5%

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Fitch downgrades 2022 global GDP growth forecast to 2.9% from 3.5%

The international rating agency Fitch Ratings has downgraded its forecast for global economic growth in 2022 to 2.9% from 3.5% expected in March, including due to rising inflation.

The estimate of China's GDP growth was revised most significantly - up to 3.7% from 4.8%. In addition, the US economy is now expected to increase by 2.9% (previously 3.5%), the eurozone - by 2.6% (previously 3%).

Fitch also downgraded its 2023 global GDP growth forecast to 2.7% from 2.8% forecast three months ago.

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