ADB Keeps 2018 Growth Forecast for Developing Asia at 6%

(Bloomberg) -- The Asian Development Bank maintains Developing Asia’s 2018 growth forecast at 6 percent in its latest Outlook supplement. Inflation forecast cut to 2.8% from 2.9%.

  • China 2018 GDP forecast maintained at 6.6%; 2019 at 6.4%
    • Inflation cut to 2.2% from 2.4%; 2019 at 2.1%
  • India 2018 GDP forecast maintained at 7.3%; 2019 at 7.6%
    • Inflation raised to 5% from 4.6%; 2019 at 5%
20182018201920192017
RevisedPreviousRevisedPreviousActual
Annual GDP Growth
Developing Asia6.0%6.0%5.9%5.9%6.1%
 Central Asia4.2%4.0%4.3%4.2%4.3%
  Kazakhstan3.7%3.2%3.9%3.5%4.0%
 East Asia6.0%6.0%5.8%5.8%6.3%
  China6.6%6.6%6.4%6.4%6.9%
  Hong Kong, China4.0%3.2%3.0%3.0%3.8%
  Korea, Rep. of3.0%3.0%2.9%2.9%3.1%
  Taipei, China3.0%2.9%2.8%2.8%2.9%
 South Asia7.0%7.0%7.2%7.2%6.5%
  India7.3%7.3%7.6%7.6%6.7%
 Southeast Asia5.2%5.2%5.2%5.2%5.2%
  Indonesia5.2%5.3%5.3%5.3%5.1%
  Malaysia5.3%5.3%5.0%5.0%5.9%
  Philippines6.8%6.8%6.9%6.9%6.7%
  Singapore3.1%3.1%2.9%2.9%3.6%
  Thailand4.2%4.0%4.1%4.1%3.9%
  Vietnam7.1%7.1%6.8%6.8%6.8%
 The Pacific2.2%2.2%3.0%3.0%2.2%
Annual Inflation Growth
Developing Asia2.8%2.9%2.7%2.9%2.2%
 Central Asia8.7%8.5%8.1%7.9%9.2%
  Kazakhstan7.0%6.8%6.5%6.2%7.4%
 East Asia2.1%2.3%2.1%2.2%1.6%
  China2.2%2.4%2.1%2.3%1.6%
  Hong Kong, China2.3%2.2%2.2%2.1%1.5%
  Korea, Rep. of1.9%1.9%2.0%2.0%1.9%
  Taipei, China1.2%1.1%1.3%1.1%0.6%
 South Asia5.0%4.7%5.1%5.1%4.0%
  India5.0%4.6%5.0%5.0%3.7%
 Southeast Asia2.9%3.0%2.9%3.0%2.8%
  Indonesia3.6%3.8%3.7%4.0%3.8%
  Malaysia2.5%2.6%1.8%1.8%3.8%
  Philippines4.3%4.0%3.9%3.9%2.9%
  Singapore0.9%0.9%1.4%1.4%0.6%
  Thailand1.3%1.2%1.4%1.3%0.7%
  Vietnam3.7%3.7%4.0%4.0%3.5%
 The Pacific4.2%4.1%3.9%3.9%3.8%

Note 1: Developing Asia refers to 45 members of the Asian Development Bank.

Note 2: Central Asia comprises Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan.

Note 3: East Asia comprises the People’s Republic of China; Hong Kong, China; the Republic of Korea; Mongolia; and Taipei, China.

Note 4: South Asia comprises Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka.

Note 5: Southeast Asia comprises Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam.

Note 6: The Pacific comprises the Cook Islands, Fiji, Kiribati, the Marshall Islands, the Federated States of Micronesia, Nauru, Papua New Guinea, Palau, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu.

Source: Asian Development Outlook 2018 supplement

©2018 Bloomberg L.P.