ADB lowers growth forecast of Asia over China's slowdown

摘要

Growth in developing Asia will be weaker than initially estimated this year and next amid a slower expansion in China and lacklustre export demand from advanced nations, the Asian Development Bank said. The region's gross domestic product will probably increase 6.3% in 2013 and 6.4% next year, the Manila-based lender said in a report published recently. In April, it forecast expansion of 6.6% this year and 6.7% in 2014. The International Monetary Fund reduced its global growth forecast earlier this month as the US recovery weakens, China's economy levels off and Europe's recession deepens.