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World Growth Outlook Improves, but Inflation Is Showing Persistence
Near-term world growth prospects have improved and Fitch Ratings has raised its 2024 global GDP growth forecast by 0.3pp to 2.4% in its latest Global Economic Outlook (GEO) published today. This reflects a sharp upward revision to the US growth forecast to 2.1%, from 1.2% in the December 2023 GEO. The revision to the US outweighs a marginal cut to our China 2024 growth forecast - to 4.5% from 4.6% - and a small revision to our eurozone forecast, to 0.6% from 0.7%. We have revised up our growth forecast for emerging markets excluding China by 0.1pp to 3.2%, with forecasts raised for India, Russia and Brazil. Fitch ... (full story)