Asian Development Bank raises growth outlook for Asia
Inflation forecast falls from earlier projection
The Asian Development Bank (ADB) raised its growth forecast for Asia for this year to 5% from an April projection of 4.9%, driven by upward revisions for East Asia and the Caucasus.
Strong domestic demand and greater exports and manufacturing will support the higher growth in Asia this year, the ADB said. Its prediction for next year remains unchanged at 4.9%.
Its forecast for East Asia went up to 4.6% from 4.5% earlier, thanks to strong exports of semiconductors and digital goods from South Korea
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