The Asian Development Bank (ADB) revised down it growth forecast for Asia in 2014 due to the slower growth in China and India and the uncertainty over the US Federal Reserves stimulus program.
The bank cut its forecast for the region in 2014 from its growth estimate of 6.7 percent to 6.2 percent in its annual flagship publication the Asian Development Outlook (ADO).
ADB revised down its 2013 Gross Domestic Product (GDP) growth forecast for the region to six percent from 6.6 percent seen in April. In 2012, growth came in at 6.1 percent.
Growth in many Asian economies have slowed down this year due to the crisis in China and India the emerging economic giants in the region.
Courtesy - AFP