Developing East Asia's GDP growth likely to moderate in 2012: World Bank
2012-05-23 11:07:21
Developing East Asia and Pacific growth remains robust, but it has moderated from post-crisis peaks, the World Bank said Wednesday.
In its latest East Asia and Pacific Economic Update, the lender said the region should reduce its reliance on exports and find new sources of growth.
The report projects that annual growth will slow to 7.6 percent in 2012 from 8.2 percent last year, with slower expansion in China pulling down the regional aggregate. The estimate for this year was downgraded from 7.8 percent.
Excluding China, growth will be 5.2 percent this year, it said.