Arab Today, arab today asian development bank cuts growth estimates for asia
Last Updated : GMT 18:22:38
Arab Today, arab today
Arab Today, arab today

Asian development bank cuts growth estimates for Asia

Arab Today, arab today

Arab Today, arab today Asian development bank cuts growth estimates for Asia

Manila - QNA

The Asian Development Bank (ADB) on Friday trimmed the region’s growth forecasts for 2012 and 2013 amid “uncertainty” in Europe and the United States, and a poor Indian economy. The region of Developing Asia, which excludes Japan, was set for growth of 6.0% in 2012, and 6.6% in 2013, the bank’s latest Asian Development Outlook Supplement said, 0.1 percentage point lower for each year than it predicted in October. The group of countries was dragged down by India’s performance stressing the country’s sliding industrial production and declining exports. In the second quarter, Indian industrial production fell 0.4% and overall growth in gross domestic product (GDP) slid to 5.3% from 6.7% a year earlier, the ‘Bangkok Post’ quoted the report as saying. Moreover, growth in consumer spending was one of the lowest in recent years, it said. “With weak agricultural income keeping rural consumption low and fragile investment sentiment in the coming quarters, GDP growth is now projected at 5.4% for fiscal 2012,” less than the 5.6% that was forecast in ADB’s 2012 October update, the report said. Southeast Asian consumers and “a mild economic recovery” in China provided some buoyancy to offset India’s weakness, it said. However, “enduring debt problems and economic weakness in Europe and the looming fiscal cliff in the United States remain very real threats to developing Asia next year,” the bank’s chief economist Changyong Rhee said. In China, October’s data reinforced September’s indication of recovery, the report said, with “industrial production growth rebounding to a five-month high of 9.6% and fixed investment expanding 20.7%, backed by a 25.5% increase in infrastructure investment.” The country’s retail sector also showed strength, growing 14.5%, spurred by increased car and appliance sales, it said. The bank expects that fourth-quarter growth of around 7.7% year-on-year will be followed by a likely 8% annual growth in 2013′s first quarter. Better-than-expected performances from Malaysia and the Philippines in the third quarter boosted the 2012 growth forecast for the ASEAN-5 group, which also includes Vietnam, Indonesia and Thailand, from a collective 5.6% to 5.9%. The ADB said it also expected the Thai economy’s fourth quarter to show a strong rebound due to the “low base effect from the impact of last year’s floods.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian development bank cuts growth estimates for asia Arab Today, arab today asian development bank cuts growth estimates for asia

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian development bank cuts growth estimates for asia Arab Today, arab today asian development bank cuts growth estimates for asia

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today Sally Shaheen considers hosting a political show
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday