Developing economies will post slower-than-expected growth: ADB
Asia's developing economies will post slower-than-expected growth this year and in 2012 as key trading partners reduce orders amid worries about the global economy, a report said today.
The Asian Development Bank study said the region's economies would expand 7.5 per cent this year, down from its 7.8 per cent forecast in April, while 2012 would see 7.5 per cent growth, down from 7.7 per cent
Slower demand in the US and Europe"continues to cast a cloud over the region,"said the Manila-based bank, adding that export growth in leading economies, including trade powerhouse China, had slowed"substantially."
"At the same time, strong domestic consumption and expanding intra-regional trade are helping to underpin still solid growth levels (in developing Asia),"said Changyong Rhee, the bank's for more details....http://www.indiareport.com/India-usa-uk-news/latest-news/1084887/Business/4/27/4
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