US ratings agency Moody's on Thursday
cuts Italy's 2023 growth forecast to -1.4%, from zero growth in
its last such forecast.
Moody's cut its estimates for global GDP in 2023, with the
growth of the G20 countries that will stop at 1.3%, compared to
the previous forecast of 2.1%, and slowing down from the 2.5%
expected this year.
"Declining economic activity in advanced economies, especially
in Europe and the US, will drive rapid growth moderation in
2023" while in 2024 the economy "will accelerate but only at a
growth rate of 2.2%," Moody's said.
Italy's estimates are cut from 'zero' growth to a 1.4%
contraction in GDP.
GDP is also expected to decline in Germany (-1.8%), France
(-0.7%), and Great Britain (-0.5%) while the US will grow by a
modest 0.4%.
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