Fitch slashes World GDP forecast to 3.5% for 2022

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Fitch Ratings on Monday lowered its global GDP growth forecast to 3.5% for 2022, down by 0.7pp as inflation challenges intensify and Russia’s invasion of Ukraine threatens global energy supplies.

In its latest March 2022 Global Economic Outlook, the rating agency noted the outlook for global GDP growth has deteriorated significantly due to sharp upward revisions to inflation forecasts. “Global inflation is back with a vengeance after an absence of at least two decades. This is starting to feel like an inflation regime change moment,” said Brian Coulton, Chief Economist, Fitch Ratings.—TLTP

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