China, India slowdowns force ADB to lower regional growth outlook

2012 projection eased to 6.1%, while 2013 forecast cut to 6.7%.

BBVA noted that the Asian Development Bank announced it was scaling back its growth forecast for developing Asia in 2012 and 2013 amid an ongoing slump in global demand and slowdowns in China and India.

The ADB projects the region’s GDP growth will ease to 6.1% in 2012 (from 6.9% earlier), and 6.7% (7.3% earlier) in 2013, down significantly from 7.2% in 2011. In today’s difficult environment, the region also remains susceptible to capital outflows, according to the ADB.

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