- Analytics
- News and Tools
- Market News
- Despite headwinds, Asia’s developing economies are still set to grow ‘very steadily’ - ADB
Despite headwinds, Asia’s developing economies are still set to grow ‘very steadily’ - ADB
Despite rising headwinds and concerns about a slowdown in the global economy, Asia’s developing economies are still set to grow “in a very steady way,” the president of the Asian Development Bank said.
Takehiko Nakao said discussions about a global economic slowdown “may be true especially for advanced economies - but, as far as Asia is concerned, it is still growing very steadily.”
According to the bank’s Asian Development Outlook 2019 report released in April, developing Asia — which comprises 45 nations ranging from China to Tuvalu — is projected to grow by 5.7% this year.
Nakao added that most of the momentum for the region’s growth comes from higher consumption and investment levels. ADB’s report found that consumption’s contribution to growth rose from 3.4% points in 2017 to 3.7% in 2018.
However, the growth outlook for developing Asia is expected to moderate to 5.6% in 2020, according to the report. That is because persistent headwinds that dragged on growth in 2018 — such as the U.S.-China trade war and a slowdown in the Chinese economy — will continue to shape the region’s economic performance in 2019 and 2020, the report said.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
