The Asian Development Bank raised its economic growth projections for the next year but signaled divergence in the recovery paths among regional economies.
In its latest Asian Development Outlook 2021 Update, released Wednesday, the ADB said developing Asia will expand 5.4 percent next year, instead of 5.3 percent estimated previously. Meanwhile, the outlook for 2021 was downgraded to 7.1 percent from 7.3 percent.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.