Fitch Ratings predicts economic recession in 2008
Economists of international rating agency Fitch Ratings believe that in 2008 rates of economic growth can to be slowed down and become sharply minimal for last five years. In their opinion, hypothec crisis and decrease in a consumer demand become principal causes of recession. Such application has been given in published today, on April, 2nd, press release of rating agency.
And even stably developing countries BRIK (Brazil, Russia, India and China) cannot compensate delay of rates of economic growth. So, according to Fitch Ratings’ forecasts, in 2008 economic growth in the USA will make 1 %, 1,3 % - in Japan, 1,4 % - in the Great Britain and 1,7 % in Eurozone.
It is also marked in Fitch Ratings’ forecast that this year average rates the developed economies’ growth, to which the countries of Eurozone, the USA, Japan and the Great Britain belong, will make about 1,3 %. And growth of fears concerning sharp decrease in a consumer demand in the USA and deeper, than it was expected, recession of the American market of the inhabited real estate became the main reason of so pessimistic forecast. In this connection economists of agency specify growth of probability of correction of charges on habitation and consumer charges in other large countries, including the Great Britain and Spain. Besides, indeterminacy in the credit markets can provoke restriction of crediting in the majority of the developed and developing countries.
