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26 Sep, 2014

ADB issues Asian Development Outlook 2014 Update

Manila, ADB media release, Sept 25, 2014 — Developing Asia is continuing along a stable growth path. Although US policy could still surprise markets the effect on developing Asia would be modest compared to the shock caused in 2013 by anticipated tightening. Demand does not threaten to reignite inflation, as regional economies continue to produce somewhat below capacity.

This and benign international commodity prices will keep inflation in developing Asia moderate Many economies in Asia have grown by connecting with global value chains. Strengthening these links could further stimulate expansion of industry and services and create jobs.

Highlights

  • Regional growth is forecast to pick up from 6.1% in 2013 to 6.2% in 2014 and further to 6.4% in 2015.
  • Growth in the major industrial economies slipped in the first half of 2014.
  • Targeted measures to stabilize investment helped the PRC sustain growth.
  • India shows new promise of an economic turnaround.
  • Growth slows in the main economies of Southeast Asia.
  • Weakening food prices and stable oil prices keep inflation in check, remaining steady at 3.4% in 2014 and 3.7% in 2015.
  • Developing Asia’s current account balance remains stable, maintaining a surplus equal to 2.1% of regional GDP in 2014 and 2.0% in 2015.
  • All Asian economies face the challenge of strengthening links to dynamic production chains.

Download the update: http://www.adb.org/sites/default/files/ado2014update-highlights.pdf