The Asian Development Bank downgraded the developing Asia's growth outlook as a resurgence of the COVID-19 infections, new virus variants and an uneven vaccine rollout weighed on the economic recovery.
In the Asian Development Outlook Supplement, released Tuesday, the growth outlook for 2021 was revised down marginally to 7.2 percent from 7.3 percent, while the projection for 2022 was upgraded to 5.4 percent from 5.3 percent forecast in April.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.