Moody's says G20 GDP growth to exceed 3%, warns of geopolitical risks

HONG KONG (Aug 30): Moody's Investors Service kept its forecast for G20 economic growth at just over 3% for this year and next, but warned of geopolitical risks, US protectionism and spillovers from global monetary tightening and China's deleveraging measures.

The ratings agency said surprisingly strong data in the first half of the year prompted it to raise 2017 growth forecasts for China to 6.8% from 6.6%, for South Korea to 2.8% from 2.5%, and for Japan to 1.5% from 1.1%.

It also expected the euro zone to accelerate in the rest of the year as suggested by robust sentiment indicators and revised upwards its forecasts for Germany, France and Italy.

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