New Delhi, April 17 -- Fitch Ratings has sharply lowered its forecasts for world growth in response to the severe escalation in the global trade war, lowering world growth in 2025 by 0.4pp and China and US growth by 0.5pp, according to its quarterly Global Economic Outlook report.

The report added that the US annual growth in 2025 is expected to remain positive at 1.2 per cent but will slow to a crawl through the year to just 0.4 per cent y-o-y in fourth quarter of 2025. China's growth is forecast to fall below 4 per cent this year and next while eurozone growth will remain stuck well below 1 per cent, the report said.

As per the report, the world growth is projected to fall below 2 per cent this year, which would be the weakest since 2...