ASIA – ADB predicts a less severe economic dip for Asia (Al Jazeera)

Developing Asia is on course to contract this year, but probably less than previously thought as China’s economy enjoys a faster than expected recovery, the Asian Development Bank (ADB) said on Thursday.

Economic growth in developing Asia, a group of 45 nations in the Asia-Pacific, is expected to shrink 0.4 percent this year, the ADB said in an update to September’s Asian Development Outlook report, short of its earlier estimate for a 0.7 percent decline. For 2021, the region is forecast to grow 6.8 percent, the bank said.