LONDON, April 16 (Reuters) - Fitch Ratings cut its global growth forecasts on Wednesday, projecting the weakest expansion since 2009 save for the COVID-19 pandemic as global trade tensions escalate.
In a special update to its quarterly global economic outlook, Fitch said it expects world growth to fall below 2% this year.
The ratings agency said it had cut its world growth forecast for 2025 by 0.4 percentage points and China and U.S. growth estimates by 0.5 percentage points compared to its March figures.
"U.S. annual growth in 2025 is expected to remain positive at 1.2% but will slow to a crawl through the year to just 0.4% yoy (year-on-year) in 4Q25," Fitch said in a statement.
"China’s growth is forecast to fall below 4% this year and next while eurozone growth will remain stuck well below 1%."
Reporting by Dhara Ranasinghe; editing by Yoruk Bahceli
Source: Reuters