Developing Asia growth forecast cut
- Published: 2 Oct 2013 at 10.18
- Online news:
HONG KONG - The Asian Development Bank cut its economic growth forecast for developing Asia on Wednesday, citing weakness in region's two largest economies China and India and jitters over plans to scale back US stimulus that destabilised financial markets.
The Manila-based lender said it expects the region's emerging economies to grow by 6 per cent this year, down from 6.6 per cent predicted in April.
The ADB also cut its 2014 growth forecast, to 6.2 per cent from 6.7 per cent.
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