ADB sees slower growth in Asia

popular .

Ex-Pacquiao sparring partner Khan also wants a piece of Mayweather

Coco’s Christmas wish this year

As dam opens, water for farms found not enough

3 weather systems rain on PH

Ona has packed belongings at DOH, ready to go, says source

Two big rail projects for rollout in 2015, says PPP Center

Why do bad things happen to good people?

Naia 1 rehab on track, says Abaya

videos

Simbang Gabi at the Gesu (Day 2)

Filipino street kids greet Pope Francis on his birthday

The naked truth behind the Oblation Run

UP Lantern Parade 2014

Simbang Gabi at the Gesu (Day 1)

Asian Development Bank (ADB). AFP FILE PHOTO

MANILA, Philippines – Growth rates in Asia Pacific have been disappointing so far, but the recent collapse of oil prices may help the region’s economies make up for lost ground, the Asian Development Bank said Wednesday.

In a new report, the Manila-based aid bank announced a new set of revisions—mostly downward—to growth projections for Asian economies.

Following a disappointing nine months, the ADB’s growth forecast for the Philippines for this year was also cut, reflecting the general weakness in the region.

“Growth in the first three quarters of this year (was) somewhat softer than we had expected,” ADB chief economist Shang-Jin Wei said in a statement accompanying the bank’s Asian Development Outlook supplement.

ADB forecasts gross domestic product (GDP) growth for the region of 6.1 percent in 2014, down from 6.2 percent expected in September, and 6.2 percent in 2015, down two-tenths of a point from the previous projection.

The Philippines, for its part, is expected to grow at a slower 5.8 percent in 2014, down from the September forecast of 6 percent. “Robust private consumption and higher private investment and net exports were insufficient to balance unexpectedly weak public spending,” the report said.

• Tags:




• Asian development bank




• Business




• economy




• News

Related Stories:

• Australia investigates ‘paedophile’ father in Thai baby scandal


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking


• Bangladesh ferry owner faces charges in sinking

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

seo tools