Fitch downgraded the global GDP growth forecast for the next year again

Fitch once again worsened its forecast of global GDP growth for 2023 - the indicator was revised from 1.7% to 1.4%. The reasons in the agency called the world central banks' tightening of credit and monetary policy to counter inflation and the deterioration of the situation in the Chinese real estate sector.

The estimation of the United States GDP growth in the next year was reduced by the agency more than twice - to 0.2%, which is 0.3 percentage points lower than the previous one. By contrast, the forecast for the eurozone has been raised - instead of a 0.1 percent contraction, the economy is now expected to grow by 0.2 percent. In China, it is forecast at 4.1%, down 0.4 percentage points from previous figures.

Analysts believe the main negative factor affecting economic growth in China is strict restrictive measures due to the coronavirus pandemic and a prolonged decline in the real estate market, while in Europe and the US the increase in interest rates by central banks.