Fitch says global economic growth is deteriorating, reflecting “the deepening slump in China’s property market is casting a shadow over global growth prospects just as monetary tightening increasingly weighs on the demand outlook in the U.S. and Europe”
- expects the U.S. to fall into recession in the first half of 2024,
- Federal Reserve “is now close to reaching a peak on rates and we expect just one more 25-basis-point hike to 5.75%. But core inflation is still high — particularly in services — and we have pushed back the date of the first Fed rate cut to May 2024.”