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Fitch Ratings cut its global economic outlook for 2015. The global growth is expected to be 2.3% in 2015, down from June estimate of a 2.4% increase, and 2.7% in 2016, down from June estimate of a 2.9% rise. The growth in 2015 would be the weakest growth since the global financial crisis in 2009.
The downward revision was driven by a slowdown in emerging economies.
Fitch expects the U.S. economy to expand 2.5% in 2015 and 2016, and 2.3% in 2017. The agency noted that it expect the Fed to start raising its interest rates by the end of the year.
Eurozone's economy is expected to grow at 1.6% over the 2015 to 2017 period.