World Bank: East Asia growth to slow to 7.2 per cent this year
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Economic growth in East Asia was expected to slow to 7.2 per cent this year from 8.2 per cent last year as China's expansion slows and demand from developed countries wanes, the World Bank said Monday.
Its latest outlook for the region was lower than the 7.6-per-cent growth the international development lender predicted in May, but it forecast a rebound in 2013 with 7.6-per-cent growth.
"Weaker demand for East Asia's exports is slowing the regional economy, but compared to other parts of the world, it's still growing strongly, and thriving domestic demand will enable the region's economy to bounce back to 7.6 per cent next year," said Pamela Cox, the World Bank's vice president for the region.//DPA
