17 Dec 2014
ADB cuts Asia and China GDP forecasts – TradeTheNews
FXStreet (Barcelona) - The TradeTheNews Team notes that the Asian Development Bank cut Asia’s GDP forecast to 6.1%, while lowering China’s 2014 GDP forecast to 7.4%.
Key Quotes
“Asia Development Bank lowered developing Asia GDP forecast to 6.1% from 6.2% prior and 2015 to 6.2% from 6.4% made in September. Unlike that last report when ADB maintained China projections, today's note also cut China 2014 GDP forecast to 7.4% from 7.5% and 2015 to 7.2% from 7.4%.“
“India GDP forecasts were affirmed at 5.5% in 6.3% respectively.”
“Separately in China, ANZ chief economist speculated the govt would "likely tolerate a slower growth rate in the coming years, under the framework of new normal economy and will strike a balance among social, environmental, and economic targets."
Key Quotes
“Asia Development Bank lowered developing Asia GDP forecast to 6.1% from 6.2% prior and 2015 to 6.2% from 6.4% made in September. Unlike that last report when ADB maintained China projections, today's note also cut China 2014 GDP forecast to 7.4% from 7.5% and 2015 to 7.2% from 7.4%.“
“India GDP forecasts were affirmed at 5.5% in 6.3% respectively.”
“Separately in China, ANZ chief economist speculated the govt would "likely tolerate a slower growth rate in the coming years, under the framework of new normal economy and will strike a balance among social, environmental, and economic targets."