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You are here: Home / ADB trims growth forecasts as Asia’s biggest economies slow

ADB trims growth forecasts as Asia’s biggest economies slow

· December 11, 2019 ·

The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors. Illustrative photo In a supplement to its Asian Development Outlook 2019 Update released in September, ADB now expects gross domestic product (GDP) in the region to expand 5.2% in both 2019 and 2020, down from the September forecast of 5.4% growth this year and 5.5% next year. “While growth rates are still solid in developing Asia, persistent trade tensions have taken a toll on the region and are still the biggest risk to the longer-term economic outlook. Domestic investment is also weakening in many countries, as business sentiment has declined,” said ADB Chief Economist Mr. Yasuyuki Sawada. “Inflation, on the other hand, is ticking up on the back of higher food prices, as African swine fever has raised pork prices significantly.” The supplement forecasts inflation of 2.8% in 2019 and 3.1% in 2020, up from the September prediction that prices would rise 2.7% this year and next. In East Asia, growth in the PRC is now expected at 6.1% this… Read full this story

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ADB trims growth forecasts as Asia's biggest economies slow have 302 words, post on dtinews.vn at December 11, 2019. This is cached page on Talk Vietnam. If you want remove this page, please contact us.

Filed Under: Business ADB trims growth forecasts as Asia's biggest economies slow, economy in southeast asia, largest economies in southeast asia, slow growth in pregnancy, economy gdp growth, slow economic growth, us economy forecast

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