S&P Global Ratings has again lowered its GDP growth forecasts for most countries and raised its inflation forecast for the US.
It sees a material slowdown in growth, but does not foresee a US recession at this juncture.
The US economy is expected to grow by 1.5 per cent this year and by 1.7 per cent in the next.
Eurozone growth is projected to be above potential in 2027 and 2028.