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The Journal Gazette

Thursday, December 06, 2012 10:38 pm

Developing Asian economies seen slowing

The Associated Press

The Asian Development Bank says growth in developing Asia will slow slightly this year and next.

The report released Friday says Asia's economies excluding Japan will grow 6 percent this year and 6.6 percent in 2013. Both figures are 0.1 percentage point lower than anticipated in October.

Slower than expected growth in India, South Korea, Hong Kong and Taiwan and the two largest Central Asian economies - Azerbaijan and Kazakhstan - slightly outweigh the more rapid expansion in some other economies in the region, such as the Philippines and Malaysia.

China posted a recovery in September. Fourth quarter growth is expected at 7.7 percent, surpassing the second and third quarter figures, and is likely to reach 8 percent in the first quarter of 2013.