FOREX TradingCharts.com

Financial News: World Bank Says Developing East Asia To Log

World Bank Says Developing East Asia To Log Slower Growth

04/01/2024 - 08:45:00 (RTTNews)

(RTTNews) - Amid the increasing protectionism and policy uncertainty, Developing East Asia is expected to log slower growth this year and next but, the pace is likely to be faster than the rest of the world on recovering global trade, the World Bank said in its East Asia and Pacific April 2024 Economic Update on Monday.

The Washington-based lender downgraded East Asia's growth outlook for this year to 4.5 percent from 5.0 percent. Likewise, the projection for next year was trimmed to 4.3 percent from 4.5 percent.

The estimates for both this year and next were weaker than the 5.1 percent growth projected for 2023.

"The East Asia and Pacific region is making a strong contribution to world economic growth, even as it faces a more challenging and uncertain global environment, aging population and the impacts of climate change," World Bank East Asia and Pacific Vice-President Manuela Ferro said.

Ferro observed that these countries can sustain growth momentum by accelerating the opening of more activities to private sector investment, resolving financial sector challenges and boosting productivity.

In the semi-annual economic outlook, the World Bank said China is set to log a moderate growth this year as high debt, a weak property sector and trade frictions weigh on the economy. As the bounce back from the re-opening of the economy fades, China's growth projection for this year was lowered to 4.5 percent from 5.1 percent and the outlook for next year was reduced marginally to 4.3 percent from 4.4 percent. The World Bank said the rest of the East Asia Pacific region, which had suffered in 2023 from slow trade growth and tight financial conditions, is set to expand 4.6 percent this year. The likely rebound in global goods trade and the gradual easing of global financial conditions are set to offset the impact of China slowing down.

The Pacific Island countries are expected to see slower growth at 3.6 percent this year and 3.3 percent in 2025.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Sweden Producer Prices Fall Further (40 min(s), 10 sec(s) ago)
(RTTNews) - Sweden's producer prices declined for the eleventh straight month amid a continued ...Full Story»

German Consumer Sentiment To Rise In May (59 min(s), 10 sec(s) ago)
(RTTNews) - German consumer confidence is set to rise again in May, survey conducted by the market ...Full Story»

Norway Jobless Rate Rises To 4.0% (01 hr(s), 20 min(s), 10 sec(s) ago)
(RTTNews) - Norway's unemployment rate increased in March after falling in the previous month, ...Full Story»

Japan Leading Index Unrevised At 18-Month High (01 hr(s), 42 min(s), 10 sec(s) ago)
(RTTNews) - Japan's leading index improved to the highest level in one-and-a-half years as ini ...Full Story»

German Export Expectations Fall For First Time In 3 Months - Ifo (01 hr(s), 55 min(s), 10 sec(s) ago)
(RTTNews) - Sentiment among Germany's exporters weakened in April after a strong rebound in th ...Full Story»

European Economic News Preview: German Consumer Confidence Data Due (02 hr(s), 45 min(s), 10 sec(s) ago)
(RTTNews) - Consumer sentiment survey data from Germany is the top economic news due on Thursday, ...Full Story»

South Korea Q1 GDP Climbs 1.3% (29 min(s), 50 sec(s) ago)
(RTTNews) - South Korea's gross domestic product was up a seasonally adjusted 1.3 percent on q ...Full Story»

South Korea GDP Jumps 1.3% In Q1 (54 min(s), 50 sec(s) ago)
(RTTNews) - South Korea's gross domestic product expanded a seasonally adjusted 1.3 percent on ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Sweden Producer Prices Fall Further

04/25/2024 - 03:38 AM (RTTNews)
(RTTNews) - Sweden's producer prices declined for the eleventh straight month amid a continued ...Full Story>>

German Consumer Sentiment To Rise In May

04/25/2024 - 03:19 AM (RTTNews)
(RTTNews) - German consumer confidence is set to rise again in May, survey conducted by the market ...Full Story>>

Norway Jobless Rate Rises To 4.0%

04/25/2024 - 02:58 AM (RTTNews)
(RTTNews) - Norway's unemployment rate increased in March after falling in the previous month, ...Full Story>>

Japan Leading Index Unrevised At 18-Month High

04/25/2024 - 02:36 AM (RTTNews)
(RTTNews) - Japan's leading index improved to the highest level in one-and-a-half years as ini ...Full Story>>

German Export Expectations Fall For First Time In 3 Months - Ifo

04/25/2024 - 02:23 AM (RTTNews)
(RTTNews) - Sentiment among Germany's exporters weakened in April after a strong rebound in th ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.