Strongest world growth expected since 2010: Fitch -Governance Now

Strongest world growth expected since 2010: Fitch

Indian GDP dipped from 7.0 to 6.1 between fourth quarter of 2016 and first quarter of 2017

GN Bureau | June 22, 2017

#Demonetisation #China #Global Economic Outlook #Fitch #growth #GDP #Arun Jaitley

Illustration: Ashish Asthana

At a time when the government is claiming that the dip in the GDP is due to global economic slowdown and not because of demonetisation, the recovery in the global growth is in fact strengthening and it is expecting its strongest world growth since 2010.

The recovery in global growth is expected to pick up to 2.9% this year and peak at 3.1% in 2018, the highest rate since 2010, says Fitch Ratings in its latest Global Economic Outlook (GEO).

"Faster growth this year reflects a synchronised improvement across both advanced and emerging market economies. Macro policies and tightening labour markets are supporting demand growth in advanced countries, while the turnaround in China's housing market since 2015 and the recovery in commodity prices from early 2016 has fuelled a rebound in emerging market demand," said Brian Coulton, Fitch's chief economist.

The Indian GDP growth slowed down to 6.1% in first quarter of 2017 from 7.0% in fourth quarter of 2016. The domestic demand accounted for the bulk of the slowdown. It appears that the demonetisation did have a material impact on the spending, said Fitch.

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