ADB Cuts Asian Growth Forecast to 5.6% in 2017

The Asian Development Bank (ADB) has trimmed its 2016 economic growth forecast for Asia to reflect slower-than-expected expansion in India.

The lender now projects that a group of 45 countries which it calls Developing Asia will grow by 5.6% this year.

That is slightly lower than its previous forecast of 5.7%. However, the ADB left its growth projection for 2017 unchanged at 5.7%

It says Asia’s economic outlook remains stable despite global uncertainties.

“Structural reforms to boost productivity, improve the investment climate, and support domestic demand can help maintain growth momentum into the future,” said ADB deputy chief economist Juzhong Zhuang.

The bank blamed the slight slowdown in India, one of the biggest economies in the region, for this year’s downgrade.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza