Asian Development Outlook 2009 Special Note: Is Recovery Taking Hold in Developing Asia?

Publication | December 2009

This special note to the Asian Development Outlook and Asian Development Outlook Update for 2009 reassesses developing Asia's outlook for the remainder of 2009 and into 2010 in light of recently available macroeconomic indicators.

For many countries in the region, growth in the third quarter of 2009 has been higher than forecast in the Asian Development Bank's (ADB) Asian Development Outlook 2009 Update (ADO Update) published in September this year. However, we remain cautious in our view of the prospects for sustained recovery in the major industrial countries - the eurozone, Japan, and United States. While there is some cause for optimism, the global recovery remains soft, with strong downside risks. This note reassesses developing Asia's outlook for the remainder of 2009 and into 2010 in light of recently available macroeconomic indicators.