Fitch downgrades global growth forecasts, but sees no recession

Ratings agency Fitch downgraded its global growth forecast citing slowdown in the investment driven growth model of China and the resulting heat felt by commodity producing nations.

Fitch now sees growth in global GDP of 2.5% in 2016, down from its previous forecast in December of 2.9%. China’s GDP was marginally downgraded to 6.2% growth from 6.3%.

The growth rate in advanced economies has been slashed to 1.7% from 2.1%.