Global gross domestic product amid the COVID-19 pandemic will beworse than expected from a previous analysis, but the bottom isnear, according to Fitch Ratings' latest Global Economic Outlook report.
The firm's economics team revised its April forecast predicting 2020 willsee an overall GDP decline of 3.9% down to 4.6%. The lowered figureresults from new analysis of GDP in Europe, the United Kingdom andemerging markets, but not China, said Fitch Ratings chief economistBrian Coulton in an announcement accompanying the report.
Elsewhere in the world, GDP growth numbers for China (0.7%), theUS (-5.6%) and Japan (-5.0%) remained unchanged from the Aprilforecast, as did Fitch's forecasts for Australia, Koreaand South Africa.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Thomas Phillips
Thomas Phillips is part of the social media team at ALM Media.
