US growth already getting a downgrade before polling day

SINGAPORE (Oct 4): Fitch Ratings has revised down its forecast for US growth in FY16 to 1.4% from 1.8% in July, according to its latest bi­monthly Global Economic Outlook (GEO) report for Sept.

"This year is likely to see the lowest annual growth rate for US GDP since 2009 as oil sector adjustments, weak external demand and the earlier appreciation of the dollar take their toll on industrial demand," says Brian Coulton, Chief Economist at Fitch.

The pessimism stems from the growing populist movement in many countries, which is increasing the risk of political shocks and in turn, affecting the outlook for private investments.

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