London , September 8 (HNA) – Fitch raises forecast for global GDP growth
The credit rating agency Fitch has revised up its forecast for global GDP this year slightly, to -4.4 per cent from the previous -4.6 per cent.
Fitch notes that the recovery since the corona outbreak last spring has been a little faster than expected, but that the pace of expansion will slow down soon.
“China has already returned to pre-pandemic GDP levels and the US, France and the UK have stepped above the February level, but we doubt this will be the much-praised V-shaped recovery. A shock in the labor market in Europe is ahead of us, companies are reducing investment and social distancing continues to directly hamper consumption in the private sector, “said Brian Coulton, chief economist at Fitch, in a comment.