Percent: Asia and Adb Forecasts

percent: The following is a summary of the latest edition of the ADO, provided by the Manila-based bank, according to The Japan Times. Growth is picking up in two-thirds of economies in developing Asia, supported by higher external demand, rebounding global commodity prices, and domestic reforms, making the region the largest single contributor to global growth at 60 percent, according to the ADO. In the report, the ADB forecasts gross domestic product GDP growth in Asia and the Pacific to reach 5.7 percent in 2017 and 2018, a slight deceleration from the 5.8 percent registered in 2016. The ADB's flagship annual report analyzes economic performance in the past year and offers forecasts for the next two years for the 45 economies in Asia and the Pacific that make up developing Asia. Developing Asia continues to drive the global economy even as the region adjusts to a more consumption-driven economy in the People's Republic of China PRC and looming global risks, ADB Chief Economist Yasuyuki Sawada noted. Industrial economies are gathering growth momentum, with the U.S., euro area, and Japan expected to collectively grow by 1.9 percent in 2017 and 2018. While uncertain policy changes in advanced economies do pose a risk to the outlook, we feel that most economies are well positioned to weather potential short-term shocks. (news.financializer.com). As reported in the news.