Fitch Ratings has increased its global growth outlook for 2023 from 2.0% to 2.4%, citing stronger-than-expected economic activity worldwide. Emerging markets have seen the largest upgrades, with growth in countries such Brazil, India, Mexico, and Russia predicted to make substantive improvements. Fitch expects China to grow by 5.6%, up from its previous forecast of 5.2%, thanks to a rebound in the first quarter of the year. For the US, growth of 1.2% is predicted for 2023, while for India, Fitch has raised its growth forecast for the 2023-24 period to 6.3% from 6.0% in March.
Fitch Predicts Solid Global Growth through 2023
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