Asian Development Bank cuts growth forecasts for China and India
by from Economics | The Guardian on (#N5JM)
The Manila-based organisation says China will only grow by 6.8% this year, down from 7.2%, blaming weaker exports and investment
The Asian Development Bank has cut its growth forecast for the region's biggest economies, citing a softer outlook for China and India and a delayed recovery in the world's advanced nations.
The Manila-based organisation said in a report on Tuesday that it now predicts the region's economies will expand 5.8% this year and 6% next year, down from the 6.3% it forecast in March for both years.
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