Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions
2 months, 4 weeks ago

Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

Associated Press  

Developing economies in Asia are forecast to grow at a 5.0% annual pace this year, helped by a strong U.S. economy and surging demand for computer chips that power artificial intelligence, the Asian Development Bank said in a report Wednesday. “The election could result in higher blanket tariffs by the U.S. on all global imports, and a broad-based and steep increase in tariffs on all U.S. imports from the PRC,” the report said. “This would significantly escalate U.S.-PRC trade tensions, with potential negative spillovers to developing Asia through real and financial channels.” Former President Donald Trump has pledged to stop U.S. businesses from shipping jobs overseas and to take other countries’ jobs and factories away by relying heavily on sweeping tariffs. Asia’s developing economies are also vulnerable to other U.S. moves that might affect their currencies or the cost of borrowing on foreign loans, the report said.

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History of this topic

Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions
2 months, 4 weeks ago

Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

The Independent  

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ADB retains India's growth forecast at 7%; govt spending, agriculture to boost economy
2 months, 4 weeks ago

ADB retains India's growth forecast at 7%; govt spending, agriculture to boost economy

The Hindu  

The Asian Development Bank on Wednesday retained India's growth forecast for the current fiscal at 7% and said that the economy is expected to accelerate in the coming quarters on improved farm output, and higher Government spending. In its Asian Development Outlook update of September, the ADB said exports in the current fiscal will be higher than earlier projected, led …

China’s exports grow 7% in July, under forecasts, while imports gain momentum
4 months, 2 weeks ago

China’s exports grow 7% in July, under forecasts, while imports gain momentum

Associated Press  

BANGKOK — China’s exports rose 7% in July from a year earlier, below economists’ forecasts for growth closer to 10% as trade tensions and weakening growth in the United States and other major markets weighed on demand. Imports climbed 7.2% to $215.9 billion, picking up momentum on stronger trade with other Asian countries that now supply many industrial components, materials …

China's new development means opportunities for world
6 months ago

China's new development means opportunities for world

China Daily  

Tourists visit a cultural block in Xiangyang, central China's Hubei province, June 10, 2024. Recently, the World Bank raised its forecast for China's 2024 economic growth to 4.8 percent, 0.3 percentage points higher from the previous forecast. The International Monetary Fund also revised up China's economic outlook to 5 percent, 0.4 percentage points higher than the previous forecast. In the …

May exports grow better than expected
6 months, 1 week ago

May exports grow better than expected

China Daily  

China's exports grew better than expected in May, with analysts pointing to improved external demand and strong resilience in foreign trade, providing a solid base for achieving its annual economic target. Zhou Maohua, a researcher at China Everbright Bank, said that China's export growth beat expectations due to the continued recovery of overseas demand, optimization of China's foreign trade structure, …

Indian economy projected to grow 6.5% in 2024: UNCTAD
8 months ago

Indian economy projected to grow 6.5% in 2024: UNCTAD

The Hindu  

India’s economy is projected to grow by 6.5% in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports. “The expansion in 2023 was driven by strong public investment outlays as well as the vitality of the services …

Risky premise: On Asian Development Bank forecast, India’s GDP growth
8 months, 1 week ago

Risky premise: On Asian Development Bank forecast, India’s GDP growth

The Hindu  

The Asian Development Bank on Thursday raised its forecast for India’s GDP growth in the current fiscal year ending on March 31, 2025, to 7%, from 6.7% earlier, citing robust public and private investment as well as expectations of a gradual improvement in consumer demand as the rural economy recovers. The ADB’s latest growth forecast for India’s GDP is, however, …

ADB pegs India’s GDP growth at 7% in 2024-25, 7.2% next year
8 months, 1 week ago

ADB pegs India’s GDP growth at 7% in 2024-25, 7.2% next year

The Hindu  

India’s economy is expected to remain robust over the next two years even though headline growth in the country’s Gross Domestic Product is forecast to slow from 7.6% in 2023-24 to 7% this year before improving to 7.2% in 2025-26, the Asian Development Bank said. “In India, growth is forecast to remain strong as rising consumption complements continued investment growth,” …

Debt, trade barriers and uncertainty will drag on Asian economies in 2024, World Bank report says
8 months, 3 weeks ago

Debt, trade barriers and uncertainty will drag on Asian economies in 2024, World Bank report says

Associated Press  

BANGKOK — Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5% this year from 5.1% in 2023, the World Bank said in a report released Monday. Debt, trade barriers and policy uncertainties are dulling the region’s economic dynamism and governments need to do more to address long-term problems …

World Bank, ADB project China GDP growth of 5.2% in 2023
1 year ago

World Bank, ADB project China GDP growth of 5.2% in 2023

China Daily  

A view of Beijing's CBD area. The World Bank has predicted China's economy will have grown 5.2 percent in 2023, with momentum expected to stabilize in the near term, propelled by a gradual recovery of consumer sentiment and policy stimulus. As global growth is projected to remain tepid at 2.4 percent next year, the world's second-largest economy is expected to …

ADB retains India's growth forecast at 6.4% for current fiscal
1 year, 5 months ago

ADB retains India's growth forecast at 6.4% for current fiscal

The Hindu  

The Asian Development Bank on Wednesday, July 19, 2023, retained India's economic growth forecast at 6.4 per cent for the current financial year and 6.7 per cent for the next, saying robust domestic demand will continue to support the region's recovery. It forecast 3.6 per cent inflation this year for developing economies in Asia, and 3.4 per cent in 2024. …

The growth math: On India’s growth prospects
1 year, 8 months ago

The growth math: On India’s growth prospects

The Hindu  

On Tuesday, two multilateral institutions presented their regional economic outlook for this year, scaling down their projection for India’s growth prospects in 2023-24. The Manila-based Asian Development Bank noted that a rebounding China’s and India’s domestic demand would lift up Asia’s growth prospects. However, it slashed its 2023-24 GDP growth forecast for India from 7.2% to 6.4%, citing tight monetary …

World Bank slashes India’s GDP growth forecast to 6.3%
1 year, 8 months ago

World Bank slashes India’s GDP growth forecast to 6.3%

Hindustan Times  

The World Bank on Tuesday cut India’s growth forecast for 2023-24 to 6.3% from its December estimate of 6.6% amid global headwinds and with rising borrowing costs and slower income growth leading to a moderation in consumption, even as its country director Auguste Tano Kouame said the Indian economy continues to show strong resilience to external shocks. World Bank slashes …

China projected to lead the growth of Asia in 2023
1 year, 8 months ago

China projected to lead the growth of Asia in 2023

China Daily  

China will likely become the only major economy in the world with growth accelerating in 2023, and its economic recovery is brightening the outlook for the whole region, economists of the Asian Development Bank said on Tuesday in Beijing. ADB's Asian Development Outlook April 2023, which was released on the same day, predicted that the economic growth in China will …

World Bank slashes China growth forecasts citing pandemic, property sector crisis
2 years ago

World Bank slashes China growth forecasts citing pandemic, property sector crisis

Hindustan Times  

The World Bank on Tuesday slashed its China growth forecast for the year as the pandemic and weaknesses in the property sector hit the world's second largest economy. "Economic activity in China continues to track the ups and downs of the pandemic -- outbreaks and growth slowdowns have been followed by uneven recoveries," the World Bank said. "Continued adaptation of …

Asian Development Bank pares 2022-23 GDP growth forecast for India to 7% from 7.5%
2 years, 3 months ago

Asian Development Bank pares 2022-23 GDP growth forecast for India to 7% from 7.5%

The Hindu  

The Asian Development Bank has pared its 2022-23 growth projection for India’s economy to 7% from 7.5% estimated in April, terming it a “modest downward revision” driven by higher-than-anticipated inflation and monetary tightening. The first quarter growth of 13.5% reflected strong growth in services for India, but GDP growth forecasts were being revised downward as price pressures are expected to …

‘Risks loom large’: Asian Development Bank cuts growth forecast
2 years, 3 months ago

‘Risks loom large’: Asian Development Bank cuts growth forecast

Al Jazeera  

Manila-based development bank lowers the growth forecast for 2022 from 5.2 percent to 4.3 percent. The Asian Development Bank has slashed its economic growth forecast for Asia’s developing economies, pointing to challenges including China’s “zero COVID” lockdowns, the war in Ukraine and rising interest rates. The Manila-based development bank said on Wednesday it had lowered its growth forecast for 2022 …

Asian Development Bank pares India growth hopes to 7.2% for 2022-23
2 years, 5 months ago

Asian Development Bank pares India growth hopes to 7.2% for 2022-23

The Hindu  

The Asian Development Bank has lowered its growth forecast for India to 7.2% for 2022-23 from a 7.5% projection made in April, citing higher than anticipated inflation since April along with monetary policy tightening. In a supplement to its Asian Development Outlook report, the Bank on July 21 also moderated its growth hopes for 2023-24 to 7.8% from 8% and …

Asia’s economic growth outlook slashed on China, Ukraine fears
2 years, 5 months ago

Asia’s economic growth outlook slashed on China, Ukraine fears

Al Jazeera  

The Asian Development Bank has slashed its economic forecasts for Asia, citing deteriorating conditions due to China’s “zero COVID” lockdowns, rising interest rates in developed economies and the war in Ukraine. Asia’s developing economies, which include China and India, are expected to grow 4.6 percent in 2022 and 5.2 percent in 2023, according to the ABD’s latest economic outlook released …

ADB pegs 2022-23 GDP growth at 7.5%
2 years, 8 months ago

ADB pegs 2022-23 GDP growth at 7.5%

The Hindu  

The Asian Development Bank forecasts India’s GDP growth to moderate to 7.5% in 2022-23 from an estimated 8.9% in 2021-22, but will pick up to reach 8% in 2023-2024. Food prices In its Asian Development Outlook report released on Wednesday the bank stated that food prices were expected to rise in tandem with increasing commodity prices Higher public capital spending …

India's GDP to Grow at 11% This Fiscal, Surge in Covid Cases May Put Economic Recovery at Risk: ADB
3 years, 7 months ago

India's GDP to Grow at 11% This Fiscal, Surge in Covid Cases May Put Economic Recovery at Risk: ADB

News 18  

The Indian economy is projected to grow at 11 per cent in the current financial year amid the “strong” vaccine drive, said ADB on Wednesday, while cautioning that the recent surge in Covid cases may put the country’s economic recovery at “risk”. “India’s economy is expected to grow 11 per cent in fiscal year 2021, which ends on March 31, …

World Bank: China's growth to pick up at 7.9% in 2021
3 years, 11 months ago

World Bank: China's growth to pick up at 7.9% in 2021

China Daily  

China's economy is expected to expand by 7.9 percent in 2021, nearly double the global growth rate predicted for the year, the World Bank said in its forecast on Tuesday. The World Bank said China's strength was "an exception", however, and disruptions from the pandemic in most other emerging market and developing countries were more severe than previously envisioned, resulting …

China will be key driver of the global economy from pandemic-induced contractions
4 years, 1 month ago

China will be key driver of the global economy from pandemic-induced contractions

The Hindu  

The most recent International Mone tary Fund report has a startling piece of information. While it was expected that the global economy would contract, with -4.4 per cent being within the range of the estimate, and that next year the growth would increase to around 5.2 per cent, what is monumental is that around 60 per cent of that global …

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