ADB warns ‘intensified’ risks for developing Asia

Gross domestic product is forecast to expand by 4.7 percent this year, the Manila-based lender said, slightly lower than its April estimate of 4.8 percent.Developing Asia refers to the multilateral lender’s 46 emerging member economies, stretching from Kazakhstan in Central Asia to the Cook Islands in the Pacific.

The bank slashed its China inflation estimate to 0.7 percent for this year, from its April forecast of 2.2 percent. Official figures show China briefly slipped into deflation in July for the first time in over two years, with prices falling 0.3 percent, year on year. It rebounded the following month. It expects inflation of 3.6 percent this year, compared with its forecast in April of 4.2 percent as prices in China ease sharply, the bank said in its flagship outlook report.

Source: Loan Digest (loandigest.net)

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