Emerging Asia GDP Forecasts Cut Amid Fed Taper Concern
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A slowdown in China and India is reverberating across the region with the Asian Development Bank forecasting expansion at a four-year low this year, putting pressure on policy makers to bolster their economies.
Developing Asia, which excludes Japan, will probably expand 6 percent in 2013 and 6.2 percent next year, the Manila-based lender said in a report today. Growth this year will match the pace in 2009, according to the ADB. In July, it had forecast expansion of 6.3 percent this year and 6.4 percent in 2014.