Asian Development Outlook 2012 Supplement: Sluggish Global Economy Weighs on Asia's Growth
Economic growth in developing countries in Asia moderated during the first half of 2012 as slower growth in the US and euro area reduced demand for the region's exports.
Europe's worsening financial and banking crisis and a sluggish recovery in the United States are weighing on developing Asia's growth prospects. Economic growth in developing Asia moderated during the first half of 2012 as slower growth in the US and Euro area reduced demand for the region's exports.
ADB's latest figures predict developing Asia will expand by 6.6% in 2012 and 7.1% in 2013, lower than the 6.9% and 7.3% forecast in ADB's Asian Development Outlook published in April.