New vehicles await export at a port in Yokohama, Japan, January 16, 2017. REUTERS/Toru Hanai/File Photo

Moody’s Investors Service sees the global outlook improving, despite warnings about a China slowdown this year, reports Reuters.

Though the ratings agency made headlines last week with a downgrade to China’s credit rating, they forecast growth at 6.6% for the year, within Beijing’s official target territory of above 6.5%.

Moody’s forecasts the G20 economies, accounting for 78% of global economy, to grow at 3.1%, up from 2.6% in 2016. One reason singled out for the improvement was the election of Emanuel Macron in France, which drastically reduced the risk of a European Union exit by a major country.