Emerging markets are still booming U.S. economy lost downturn.

<P> Fitch Ratings said Wednesday that although the BRIC countries (BRIC), Brazil, Russia, China and India and other emerging market economy grows, but the developed countries due to declining housing market and consumer spending is expected to result in economic downturn .drag on global growth rate in 2008 dropped to the lowest level in five years. .</ P> <P> to Reuters, Fitch believes that the world economy will in the next 18 months, face a tough situation. .In the United States into recession, it predicts that the U.S., Japan, UK, Eurozone and other major developed economies (MAE) in 2008 to 1.3% growth rate. .The global gross domestic product (GDP) growth rate will be higher than expected in 2001, thanks to the BRICs and other emerging market economies that have the toughness; measured at market exchange rates, but global economic growth will be in five years .the lowest level of 2.6%. .</ P> <P> the core of the global economic outlook is worsening outlook for U.S. consumer spending and the property market downturn more severe and persistent than expected. .Fitch expects rising income uncertainty and a decline in asset prices will increase by U.S. households saving way to promote a wider range of expenditure savings. .Financial incentives radical initiatives, strong business investment and strong exports will limit the severity of the recession, but the pace of U.S. domestic demand growth will slow in 2001. .</ P> <P> In addition, continued tight global credit markets makes the prospect of becoming increasingly likely that the general deterioration of credit conditions will reduce the real economy through lending and the impact on the macroeconomy. .</ P> <P> since late last year, surging energy and food prices, led to the recent inflationary pressures, which limits the decision-makers respond to these shocks. .Fitch forecasts the major developed economies, the average inflation rate in 2008 slightly lower than expected 3%, the highest level since 1992; Global Consumer Price Index (CPI) is expected to increase 3.7%, the highest since 1999. .</ P> <P> inflation is not yet a serious part of the economic slowdown in developed economies, the central bank pressure. .Fitch expects the Federal Reserve Board (Federal Reserve, FED), the Bank of England and European Central Bank (ECB), several central bank will further cut interest rates aggressively. .Emerging market countries are different conditions, strong growth and rising food and energy prices continue to tighten monetary policy tightening shock is imperative so as to avoid inflation of the medium-term economic performance more devastating effect. .</ P>.