Business Standard

ADB cuts outlook for developing Asia growth on slowing China expansion

The Asian Development Bank cut its growth forecast for China and also lowered its outlook for developing Asia amid rising interest rates, a prolonged war in Ukraine and Beijing's Covid Zero policy

Photo: Bloomberg
Premium

Photo: Bloomberg

Myungshin Cho and Siegfrid Alegado | Bloomberg
The Asian Development Bank cut its economic growth forecast for China and also lowered its outlook for developing Asia amid rising interest rates, a prolonged war in Ukraine and Beijing’s Covid Zero policy.
 
The region is seen expanding 4.3% this year, according to the bank’s Asian Development Outlook Update released Wednesday, compared with a 4.6% projection in July. Growth in China, the largest economy in Asia, is expected to be slower at 3.3% against a 4% expansion seen previously.

Sporadic Covid-19 outbreaks and new lockdowns have weakened China’s growth, which ADB said will be slower than the rest

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 21 2022 | 8:37 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com