LONDON, Feb 24 (Reuters) – Credit ratings firm Moody\u2019s revised upwards on Wednesday its economic forecasts for the year for the United States and emerging markets, but cut Europe\u2019s following the region\u2019s tough COVID-19 lockdowns.<\/p>\n
Moody\u2019s pushed up its U.S. growth forecast to 4.7%, from the 4.2% it had expected in November.<\/p>\n
Emerging market growth moved up to 7% from 6.1%, led by upward revisions to China, India and Mexico, while the euro zone and Britain saw their respective projections cut to 3.7% and 4.7%, from 4.7% and 5.2% previously.<\/p>\n
\u201cThe effects on individual businesses, sectors and regions continue to be uneven, and the COVID-19 crisis will endure as a challenge to the world\u2019s economies well beyond our two-year forecast horizon,\u201d Moody\u2019s said in a report on its new forecasts.<\/p>\n