{"id":18464,"date":"2023-06-23T10:50:14","date_gmt":"2023-06-23T10:50:14","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2"},"modified":"2023-06-23T11:06:21","modified_gmt":"2023-06-23T11:06:21","slug":"fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2","title":{"rendered":"Fitch revises up 2023 global growth forecast to 2.4% from 2%"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Fitch Ratings revised up its global economic growth forecast for this year to 2.4%, from its previous projection of 2%.<\/p>\n

“The biggest upgrades have been to emerging markets (EM) where incoming data have been a lot stronger than expected,” it said in the Global Economic Outlook report released Wednesday.<\/p>\n

The growth estimate for emerging markets, excluding China, was revised up to 2.9% from 2% with Brazil, India, Mexico, and Russia seeing “substantive improvements.”<\/p>\n

China\u2019s growth expectation was revised up to 5.6%, from 5.2%, after its economy reopening in the first quarter of 2023 was “swifter-than-expected.”<\/p>\n

The US economy’s growth forecast was also revised up, to 1.2% from 1%, as consumption and job growth remain robust.<\/p>\n

The rating agency, however, noted it still expects the US Federal Reserve’s monetary tightening to push the American economy into a mild recession, but its timing has been pushed to the period between the fourth quarter of 2023 and the first quarter of 2024.<\/p>\n

Eurozone’s growth forecasts for 2023 and 2024 were kept unchanged.<\/p>\n

Fitch, on the other hand, lowered its global economic growth forecast for 2024 to 2.1%, from 2.4%, “due to longer lags in the impact of higher interest rates, along with weaker base effects for EM growth.”<\/p>\n

The agency said world economic growth should pick up in 2025 due to an easing in monetary policies next year.<\/p>\n

While Fitch kept the Turkish economy’s growth estimates unchanged at 2.5% and 3% for 2023 and 2024, respectively, it expects Tu\u0308rkiye’s economy to expand by 3.8% in 2025.<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. Fitch Ratings revised up its global economic growth forecast for this year to 2.4%, from its previous projection of 2%. “The biggest upgrades have been to emerging markets (EM) where incoming data have been a lot stronger than expected,” it said in the Global Economic Outlook report released Wednesday. The growth estimate […]<\/p>\n","protected":false},"author":84,"featured_media":18463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,171,2600,233,1322,1750,304],"class_list":{"0":"post-18464","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-eritrea","11":"tag-china","12":"tag-emerging-markets","13":"tag-eritrea","14":"tag-fitch-ratings","16":"tag-us"},"yoast_head":"\nFitch revises up 2023 global growth forecast to 2.4% from 2% - Eritrea<\/title>\n<meta name=\"description\" content=\"Fitch Ratings revised up its global economic growth forecast for this year to 2.4%, from its previous projection of 2%. ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fitch revises up 2023 global growth forecast to 2.4% from 2%\" \/>\n<meta property=\"og:description\" content=\"Fitch Ratings revised up its global economic growth forecast for this year to 2.4%, from its previous projection of 2%. ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-23T10:50:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-23T11:06:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/06\/sm_1687502102.445453.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fitch revises up 2023 global growth forecast to 2.4% from 2%\",\"datePublished\":\"2023-06-23T10:50:14+00:00\",\"dateModified\":\"2023-06-23T11:06:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2\"},\"wordCount\":257,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/06\/sm_1687502102.445453.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"CHINA\",\"Emerging Markets\",\"Eritrea\",\"Fitch Ratings\",\"global economic growth\",\"US\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/fitch-revises-up-2023-global-growth-forecast-to-2-4-from-2\",\"name\":\"Fitch revises up 2023 global growth forecast to 2.4% from 2% - 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