The Asian Development Bank on Thursday upgraded
its outlook for emerging Asia’s growth rate of gross domestic product for this
year to 5.9% from the previous figure of 5.7%, citing better-than-estimated
Chinese economic growth.
The GDP growth rates in 2015 and 2016 were 6.0%
and 5.8%, respectively.
The key driver for the upgrade is China, up 0.2
points to 6.7%, backed by increased domestic consumption and exports. The
Chinese government earlier announced that January-June GDP growth was 6.9%.
The previous outlook was published in April. On
Thursday, the ADB also upgraded the growth outlook for 2018 to 5.8% from 5.7%.
The ADB’s outlook covers 45 countries and
regions in the Asia-Pacific region, and excludes developed nations.
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