Asia-Pacific Economic Growth Forecast Record Decline Asian Development Bank September 15 10:58
The Asian Development Bank has lowered its economic growth outlook for the Asia-Pacific region, excluding Japan, to minus 0.7% due to the serious impact of the new coronavirus, marking the record decline since 1961. I have summarized the prediction that it will be.
According to the announcement by the Asian Development Bank, the economic growth rate of the entire Asia-Pacific region excluding Japan and Australia was minus 0.7% due to the serious impact of the spread of the new coronavirus. It is said that it will turn to negative growth from last year's plus 5.1%.
We have revised down our forecast of + 0.1% as of June, and forecast that it will be the record decline since 1961, which was -8%.
By country or region, India, where the spread of infection continues, is minus 9%, and Southeast Asia, which has a serious impact on the tourism industry, is minus 3.8%.
However, China, where economic activity is resuming, is expected to maintain positive growth at 1.8%.
The Asian Development Bank says that the economic growth rate of the entire region will recover to + 6.8% next year due to the reaction to this decline, but the spread of the new coronavirus infection will continue to be the biggest downside risk of the economy. is.