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Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div>
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South Asia On Track To Meet Growth Expectations In 2013-14 : ADB
1 min 47 sec to read
South Asia is on track to meet growth expectations of 4.7 per cent in 2013 and 5.5 per cent in 2014, says a new Asian Development Bank (ADB) report. The report entitled "Asian Development Outlook Supplement" states that recovery in India will positively impact the region's overall economic performance. "After bottoming out in the first fiscal quarter, India’s economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs. India is anticipated to grow at 4.7 per cent in fiscal year 2013 (ending 31 March 2014) and 5.7 per cent in the fiscal year 2014, unchanged from the October forecast," says the bank.
Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.
However, ADB estimates slight moderation is forecast in Southeast Asia. The report forecasts the sub-region to post growth of 4.8% in 2013 and 5.2% in 2014; both forecasts are revised down 0.1 percentage points from October. "The moderation stems from the impact of tensions in Thailand on consumption and tourism. The devastating impact of Typhoon Haiyan is tempering the Philippines’ 2013 growth, but reconstruction is expected to boost growth as it ramps up in 2014," it said.
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Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div>
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Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div>
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Similarly, ADB also raised the growth projection for entire Asia region. The report forecasts growth of 6 per cent in 2013 for ADB’s 45 developing member countries, improving to 6.2 per cent in 2014. Likewise an improving growth outlook in Japan and the United States paired with stronger-than-expected performance in China support a steady growth outlook for developing Asia, according to the report. “Despite uncertainties in the global economic environment, developing Asian economies remain resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in the advanced economies,” said ADB Chief Economist Changyong Rhee. ADB estimated that China's growth will increase by 0.1 percentage points to 7.7% in 2013 and 7.5% in 2014 on the back of rising infrastructure investment. Likewise, advanced economies of the US, euro area and Japan are on track to meet the October forecast of 0.9% growth in 2013. ADB expects 1.9% growth in these economies in 2014, up 0.1 percentage points from the October forecast.</div>
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