MANILA Baratas Hombre Nike Air Force 1 High Just Do It Negras , Dec. 11 (Xinhua) -- The Asian Development Bank (ADB) revised down its growth forecast for Southeast Asia following the extensive damage caused by super typhoon Haiyan in the Philippines last month.
In a report released on Wednesday, the Manila-based lender projected growth in Southeast Asian countries including the Philippines to reach 4.8 percent, down from its forecast of 4.9 percent in October.
"The revision reflects political tensions in Thailand in the last quarter of 2013 and their adverse impact on consumption and tourism. Devastation wrought by typhoon Haiyan is undermining Philippine growth in 2013, though this is mitigated by relief efforts under way and transfers from abroad supporting consumption nike metcon 4 baratas , " ADB said.
The ADB expects reconstruction to boost economic activity in the Philippines in 2014. In its October report, GDP growth for the Philippines was projected at 7 percent in 2013 and 6.1 percent next year.
For the whole of developing Asia, the ADB maintained its growth forecast of 6 percent this year.
"Despite uncertainties in the global economic environment, developing Asia remains resilient. The region has performed well in 2013 and is now poised to benefit from the further signs of growth momentum in advanced economies nike metcon baratas ," said ADB Chief Economist Changyong Rhee.
Advanced economies of the United States, European Union and Japan are on track to meet the October forecast of 0.9 percent growth this year. ADB expects 1.9 percent growth in these economies in 2014, up 0.1 percentage point from the October forecast.
The outlook for China's growth is increased by 0.1 percent point to 7.7 percent in 2013 and 7.5 percent in 2014 on the back of rising infrastructure investment. For the whole of East Asia, ADB sees growth increasing by 0.1 percentage point to 6.7 percent for both 2013 and 2014.
South Asia is also on track to meet growth expectations of 4.7 percent in 2013 and 5.5 percent in 2014. ADB said India's economy appears to have recovered on the back of a rebound in exports and higher industrial and agricultural outputs.
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