Moody's has downgraded growth forecast in the G20 economies to average 2.8 percent next year, from 3.1 percent, said the rating agency. Weaker-than-expected activity in the second quarter has also led the Moody's to revise down this year's growth projection, according to its report released Friday. China's GDP growth forecast in 2016 has been lowered to 6.3 percent from 6.5 percent previously, the latest update showed. The revision mainly reflects the impact of a more marked slowdown now forecast in China and more prolonged negative effects of low commodity prices on G20 producers than earlier expected, said the report. Here's a list of the top 10 G20 economies by growth forecast in 2015, compiled by the Moody's.
A landmark view of the Shanghai bund. [File photo]
1. China:
- Expected growth in 2015: 6.5-7.5%
- Expected growth in 2016: 5.5-6.5%
- Growth in 2014: 7.4%
Photo taken on Sept. 17, 2013 shows a gothic auditorium in the University of Mumbai, Mumbai, India. [Xinhua]
1. India:
- Expected growth in 2015: 6.5-7.5%
- Expected growth in 2016: 7-8%
- Growth in 2014: 7.1%
Foreign tourists gather on the beach in Bali, Indonesia, Sept. 8. 2013. [Xinhua]
3. Indonesia:
- Expected growth in 2015: 4-5%
- Expected growth in 2016: 4-5%
- Growth in 2014: 5%
A street sign for Wall Street is seen in Manhattan, New York City, the United States, Aug. 25, 2015. [Xinhua]
4. United States:
- Expected growth in 2015: 2-3%
- Expected growth in 2016: 2-3%
- Growth in 2014: 2.4%
The 153-year-old Big Ben clock tower which is renamed "the Elizabeth Tower" is seen at central London, Britain on Sept. 13, 2012. [Xinhua]
4. United Kingdom:
The grand bazaar in Istanbul. [File photo]
4. Turkey:
- Expected growth in 2015: 2-3%
- Expected growth in 2016: 2-3%
- Growth in 2014: 2.9%
Tourists walk in Myeongdong commercial district in Seoul, South Korea, June 24, 2015. [Xinhua]
4. South Korea:
- Expected growth in 2015: 2-3%
- Expected growth in 2016: 2-3%
- Growth in 2014: 3.3%
A view of the King Saud University in Riyadh, Saudi Arabia. [File photo]
4. Saudi Arabia:
- Expected growth in 2015: 2-3%
- Expected growth in 2016: 2.5-3.5%
- Growth in 2014: 3.5%
A disguised woman reacts during the "La Mole Comic Con" held in the WTC International Convention and Exhibition Center, in Mexico City, capital of Mexico, on March 13, 2015. [Xinhua]
4. Mexico:
- Expected growth in 2015: 2-3%
- Expected growth in 2016: 2-3%
- Growth in 2014: 2.1%
A ferry boat moves in the front of the Sydney Opera House, which is lit up in red to celebrate the Chinese lunar New Year, in Sydney, Australia, on Feb. 10, 2013. The Chinese Spring Festival falls on Feb. 10 this year, marking the start of the Chinese Year of the Snake. [Xinhua]
10. Australia :
- Expected growth in 2015: 1.5-2.5%
- Expected growth in 2016: 1.5-2.5%
- Growth in 2014: 2.7%
