Investors Scale Back US Economic Growth Expectations

Credit investors anticipate weaker economic growth in the United States that was previously expected despite low oil prices, ratings agency Fitch said in a press release on Wednesday upon concluding an investor survey.

WASHINGTON (Sputnik) — Fitch noted that vast majority of survey respondents expect the declining trend, which started in February 2014, to continue.

"The less bullish view on the economy may be partly explained by investors being less optimistic on the impact of cheaper oil," the release stated. "While 84 percent believe the growth rate will be 2-3 percent, nobody anticipates a higher pace."

"Two-thirds of respondents expect worsening conditions overall, up from just under half in April," the press release said.

In October, the International Monetary Fund said the growth of the US economy will reach 2.8 percent in 2016 because of lower energy prices, but also because of the improving housing market and lessened fiscal burden.