The International Monetary Fund downgraded Asia's growth outlook citing prolonged global policy uncertainty and slowing growth in China and India, and highlighted rising downside risks to growth.
According to the latest economic assessment for Asia and the Pacific, released Wednesday, Asia will grow only 5 percent this year instead of 5.4 percent projected earlier due to weak trade and investment. This would be the slowest expansion since the global financial crisis.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.