Fitch Ratings said that the global economic growth rate is expected to slow to its slowest level since the COVID-19 pandemic, but the outlook looks slightly better than earlier this year, and the agency slightly raised its global economic growth forecast for 2025 and 2026. This slowdown will be mainly driven by the US, and Fitch expects the US economy's growth rate to fall to 1.8% in 2025 from 2.8% in 2024. Fitch had previously anticipated a more drastic deceleration in the US economy, but the impact of tariffs was milder than initially anticipated. Crucially, at the same time, private sector spending associated with the AI boom has risen sharply. “Robots have come to the rescue,” said Brian Coulton, chief economist at Fitch. He said that the large scale of private sector spending caused by AI has largely offset the impact of higher tariffs on the US economy. The wealth effect brought about by the active stock market also acted as a buffer.

Fitch Ratings said that the global economic growth rate is expected to slow to its slowest level since the COVID-19 pandemic, but the outlook looks slightly better than earlier this year, and the agency slightly raised its global economic growth forecast for 2025 and 2026. This slowdown will be mainly driven by the US, and Fitch expects the US economy's growth rate to fall to 1.8% in 2025 from 2.8% in 2024. Fitch had previously anticipated a more drastic deceleration in the US economy, but the impact of tariffs was milder than initially anticipated. Crucially, at the same time, private sector spending associated with the AI boom has risen sharply. “Robots have come to the rescue,” said Brian Coulton, chief economist at Fitch. He said that the large scale of private sector spending caused by AI has largely offset the impact of higher tariffs on the US economy. The wealth effect brought about by the active stock market also acted as a buffer.