The world economy is likely to grow a bit faster in 2023 than Fitch Ratings expected in its June Global Economic Outlook (GEO), but 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 US and Europe, says Fitch in its September 2023 GEO, released today. Fitch has revised up its forecast for world growth in 2023 by 0.1pp to 2.5%, reflecting surprising resilience so far this year in the US, Japan and emerging markets (EM) excluding China. We have raised US growth by 0.8pp to 2.0%, Japan by 0.7pp to ... (full story)