Mumbai, Sept. 30 -- The Asian Development Bank trimmed developing Asia's growth outlook citing the impact of higher US trade tariffs on exports.
Developing Asia is forecast to grow 4.8 percent this year, down from the previous outlook of 4.9 percent, the ADB said in its Asian Development Outlook, released Tuesday. Similarly, the projection for next year was downgraded to 4.5 percent from 4.7 percent.
The ADB said updated trade agreements will weigh on exports and growth in the region despite the implementation of stimulus measures. v
The revisions reflect downgrades for India, hit by steep tariff hikes, and Southeast Asia, driven by a worse and more uncertain global environment, the ADB said.
India's economic growth forecast was lowered...