ADB: Asia growth outlook brightens on strong exports – RTRS

In its update of the Asian Development Outlook on Thursday, the Asian Development Bank (ADB) raised its 2017 and 2018 growth forecasts for the region, Reuters reports.

Key Highlights via Reuters:

“Developing Asia - made up of 45 countries in the Asia-Pacific region - is expected to grow 5.9 percent and 5.8 percent this year and next

They are a step up from April forecasts of 5.7 percent for both years.

The update of the Development Outlook raised China's 2017 and 2018 growth forecasts to 6.7 percent and 6.4 percent, respectively, from 6.5 percent and 6.2 percent, driven by strong consumption and improving shipments.

It cut this year's inflation projection to 2.6 percent from 3.0 percent, and next year's forecast to 3.0 percent from 3.2 percent.”