World Bank Cuts East Asia GDP Growth Forecasts, Warns of Risks
This article is for subscribers only.
The World Bank has lowered its growth forecasts for East Asia and the Pacific to 5% from 5.4% forecast in October, and warned growth could slow to 4% if conditions weaken further.
The latest outlook reflects a hit to the region from Russia’s invasion of Ukraine, rising interest rates in the U.S. and slowing growth in China. Ongoing supply chain shocks are continuing to hamper manufacturers and push up prices, the World Bank said in its Spring 2022 East Asia and Pacific Economic Update.