• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Fitch Ratings raises 2024 global GDP forecast to 2.4% amidst mixed regional outlooks

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
50
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

Fitch Ratings raises 2024 global GDP forecast to 2.4% amidst mixed regional outlooks

Fitch Ratings has upgraded its 2024 global Gross Domestic Product (GDP) growth forecast, citing a 0.3 percentage point increase to 2.4% in its latest Global Economic Outlook (GEO). The adjustment is underpinned by a notable uptick in the US growth projection to 2.1%, up from 1.2% in December 2023, overshadowing marginal cuts in China’s forecast to 4.5% from 4.6%, and a slight revision for the eurozone to 0.6% from 0.7%.

The ratings agency emphasized a surge in growth expectations for emerging markets, excluding China, now pegged at 3.2%, with India, Russia, and Brazil seeing upward revisions. Despite a promising outlook, Fitch anticipates a moderation in global growth for 2025 to 2.5%, with the eurozone poised for recovery on the back of increased real wages and consumption, while US growth is expected to decelerate.

In the United States, Fitch pointed to the waning impact of fiscal stimulus and an impending slowdown in household income growth as factors contributing to a below-trend quarter-on-quarter growth rate later in the year. Conversely, the eurozone grapples with stagnation exacerbated by Germany’s recession, though hopes for a rebound persist as the European Central Bank eyes rate cuts amidst receding energy shocks.

Meanwhile, China faces continued challenges with a persistent property market downturn and mounting deflationary pressures. Yet, fiscal stimulus measures offer a reprieve, softening the blow on GDP forecasts.

On the inflation front, Fitch revised its end-2024 US CPI inflation forecast upwards to 2.9%, reflecting increased momentum in core inflation. In the eurozone, despite progress in curbing inflation, concerns linger over persistently high services and wage inflation, coupled with burgeoning shipping costs adding pressure on core goods inflation.

Monetary policy expectations remain cautious, with Fitch anticipating rate cuts from both the US Federal Reserve and the European Central Bank. However, the central banks are hesitant, awaiting further evidence of sustained disinflation progress before committing to easing measures. The first rate cut from the Fed is now expected in July, while the ECB is projected to act in June 2024, marking a delay from previous expectations.

Overall, Fitch’s nuanced outlook underscores a complex global economic landscape characterized by varying growth trajectories across regions, inflationary pressures, and a measured approach to monetary policy adjustments amidst lingering uncertainties.

Tags: Fitch RatingsFitch Ratings raises 2024 global GDP forecast to 2.4% amidst mixed regional outlooksglobal GDP forecast
No Result
View All Result

Highlights

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

Morocco Crowned World Champions at the FIFA U-20 World Cup

GPL: Gold Stars Seek Redemption, Eleven Wonders Hunt First Win in Super Monday Doubleheader

OMCs Begin Over 4% Fuel Price Reductions Amid Cedi Gains and Decline in Global Oil Prices

Nigerians to pay more for ChatGPT on OpenAI’s 7.5% VAT

Prof. Baah-Boateng Urges Bank of Ghana to Prioritise Cedi Stability Amid Sharp Currency Swings

Trending

Features

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release

October 20, 2025

BudgIT Ghana Calls for Deeper Reforms Following 2024 Open Parliament Index Release BudgIT, a prominent civic tech...

Global Economy Undergoing Profound Transformation Amid Heightened Uncertainty, Says IMFC Chair

October 20, 2025

Fitch Solutions Revises Ghana’s 2025 Growth Forecast Upwards to 4.9% on Easing Inflation and Stronger Cedi

October 20, 2025

Nigeria, Kenya Follow Ghana’s Trailblazing GoldBod to Strengthen Economies

October 20, 2025

Morocco Crowned World Champions at the FIFA U-20 World Cup

October 20, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.