ADB raises 2024 economic growth forecast for developing Asia, the Pacific

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JAKARTA: The Asian Development Bank (ADB) has revised its economic growth forecast for developing Asia and the Pacific to 5.0 per cent this year, up from the previous estimate of 4.9 per cent in April.

The projection is driven by robust domestic demand and strengthening export growth.

It said the rising global demand for semiconductors, fueled by the artificial intelligence boom, is boosting exports, while the easing global food prices and the delayed effects of monetary policy have reduced inflation to near pre-pandemic levels.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaIndiaUnited States

Topics: Southeast Asia /Business/Business News Economic Asia Economy Growth Forecast ADB

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 13:28:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 431 words

Reading Time: 3 minutes read

Sentences: 19 lines

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Copyright Owner: © The Star

News ID: 22703048

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