ADB Raises Developing Asia 2017 GDP Forecast to 5.9%; 2018 5.8%

The Asian Development Bank raises Developing Asia’s 2017 growth forecast to 5.9 percent from 5.7 percent in its latest Asian Development Outlook Update.

• China growth forecast raised to 6.7% y/y from 6.5%
• South Korea growth forecast raised to 2.8% y/y from 2.5%
• India growth forecast cut to 7% y/y from 7.4%
• Indonesia growth forecast maintained at 5.1% y/y
• Thailand growth forecast maintained at 3.5% y/y
• Philippines growth forecast raised to 6.5% y/y from 6.4%
• “Growth prospects for developing Asia are looking up, bolstered by a revival in world trade and strong momentum in the People’s Republic of China,” Yasuyuki Sawada, ADB’s chief economist says

Source: Asian Development Outlook 2017 Update