Friday, April 5, 2019

ADB down grades India's growth forecast

Asian Development Bank downgraded economic growth forecasts for India and Southeast Asia for 2019 as global risks from trade tensions to Brexit mount.

Gross domestic product in India will probably increase 7.2 percent this year, down from a December forecast of 7.6 percent, according to the ADB’s latest Asian Development Outlook report. Southeast Asia’s growth estimate was lowered by 0.2 percentage point to 4.9 percent.

A drawn-out or deteriorating trade conflict between China and the U.S. could damp investment, the ADB said, while the U.K.’s potential chaotic exit from the European Union and financial market volatility comes with additional risks.

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