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ADB Trims Southeast Asia 2014 Growth Forecast;
Sep 30, 2014

India’s Growth Forecast Upped for 2015

The Asian Development Bank (ADB) has trimmed its growth forecast for Southeast Asia this year, citing factors such as political turmoil in Thailand earlier in the year and weaker commodity export prices in Indonesia.

In its update to the 2014 outlook, ADB said that Southeast Asia was now expected to grow 4.6 percent this year,down slightly from its forecast in July of 4.7 percent and 5.0percent forecast in April.

  • The ADB trimmed its 2014 growth forecasts for Indonesia, Thailand, the Philippines, Vietnam and Singapore compared with April, but raised its growth forecast for Malaysia to 5.7 percent from 5.1 percent, citing a rebound in the country's exports.

  • Growth in Southeast Asia was likely to accelerate in 2015 to 5.3 percent, although that was down from its July and April forecasts for 5.4 percent growth. 

  • Next year, better performance in the major industrial economies and Thailand's recovery from its slump will spur Southeast Asian growth to 5.3 percent.

  • The ADB kept its 2014 and 2015 growth forecasts for China unchanged, saying growth was likely to slip to 7.5 percent this year and 7.4 percent next year, compared with 7.7 percent in2013.

  • The ADB kept its 2014 growth forecast for India unchanged at 5.5 percent. 

  • It also maintained its upgraded 2015 growth forecast for India of 6.3 percent unveiled in July, up from its April forecast of 6.0 percent growth, citing expectations of economic reform by the new government.


India’s Growth Forecast Revised for 2015:  Revising India's GDP growth forecast upwards by 0.3 per cent to 6.3 per cent in 2015, Asian Development Bank (ADB) has said the economy shows a new promise of turnaround after the election brought a stable government. This update maintains the 5.5 per cent growth forecast for 2014 but upgrades to 6.3 per cent, the forecast for 2015, when reform can begin to bear fruit. 

ADB said in its Outlook 2014 Update, the reforms, the timely award of environmental clearances, and measures to control inflation are expected to augment firming export demand from the major industrial economies.


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