The global growth is forecast at 2.4 per cent in 2025, down from 2.9 per cent in 2024, citing US slowdown and tariff impacts, according to Fitch Ratings.
Growth outlooks were raised for China (4.7 per cent), eurozone (1.1 per cent) and US (1.6 per cent).
Tariff hikes, modestly affecting US inflation, are expected to weigh on wages and spending.
Fitch projects faster Fed rate cuts.