The Asian Development Bank trimmed developing Asia's growth outlook citing the impact of higher US trade tariffs on exports.
Developing Asia is forecast to grow 4.8 percent this year, down from the previous outlook of 4.9 percent, the ADB said in its Asian Development Outlook, released Tuesday. Similarly, the projection for next year was downgraded to 4.5 percent from 4.7 percent.
The ADB said updated trade agreements will weigh on exports and growth in the region despite the implementation of stimulus measures.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.