Fitch is out with a note on global growth:
- The new US administration has started a global trade war that will reduce US and world growth
- Cuts 2025 US GDP growth forecast to 1.7% from 2.1%
- Cuts 2026 US GDP growth forecast to 1.5% from 1.7%
- Mexico and Canada will experience technical recessions
- World growth to 2.3% from 2.6% in December estimate
- Fiscal easing in China and Germany will cushion the impact of higher US
import tariffs, but growth in the eurozone this year will still be a lot
weaker than forecast in the December GEO
This article was written by Adam Button at www.forexlive.com.
