Fitch: global economic environment deteriorated significantly, but recession is not expected

The growth environment of the global economy deteriorated significantly in the past quarter, especially due to the slowdown in the Chinese economy and due to the negative oil market price shock in the emerging regions, but global recession is not expected – the quarterly global economic projection of Fitch Ratings states. The projection was published on Monday in London.

The “Fitch 20” forecast model of the international credit rating company, a proxy for world GDP based on a weighted average of 20 of the largest advanced and emerging market countries. The CBRE forecasts growth in advanced countries as a whole at 1.7 percent in 2016 down from 2.1 percent in December's edition of the GEO. For emerging markets, 2016 growth is now pegged at 4.0 percent, down from 4.4 percent in December. (MTI, Kertész Róbert)