Sun Oct 6, 2013 11:00pm EDT SINGAPORE, Oct 7 (Reuters) - The World Bank on Monday cut its 2013 and 2014 economic growth forecasts for developing East Asia, citing lower-than-expected exports and investments as well as weaker commodity prices. The Washington-based development bank lowered its forecasts for China, Indonesia, Malaysia and Thailand but raised its outlook for the Philippines in its East Asia Pacific Economic Update.Latest GDP growth projections: 2013 2014 East Asia 6.0 (-0.5) 6.4 (-0.3) Developing East Asia 7.1 (-0.7) 7.2 (-0.4) China 7.5 (-0.8) 7.7 (-0.3) Indonesia 5.6 (-0.6) 5.3 (-1.2) Malaysia 4.3 (-0.8) 4.8 (-0.6) Philippines 7.0 (+0.8) 6.7 (+0.3) Thailand 4.0 (-1.3) 4.5 (-0.5) Vietnam 5.3 (+0.1) 5.4 (-0.3) Cambodia 7.0 (-) 7.0 (-) Fiji 2.4 (+0.2) 2.1 (-0.2) Laos 8.0 (+0.4) 7.7 (-) Mongolia 12.5 (-0.5) 10.3 (-1.2) Myanmar 6.8 (+0.3) 6.9 (+0.3) Papua New Guinea 4.5 (+0.5) 10.0 (+2.5) Solomon Islands 4.0 (-) 3.5 (-0.5) Timor Leste 10.4 (-) 10.2 (-) Developing East Asia 5.2 (-0.5) 5.3 (-0.7) excluding China ASEAN 5.1 (-0.3) 5.1 (-0.6) Source: World Bank
Posted on: Mon, 07 Oct 2013 16:03:00 +0000
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