(Bloomberg) -- Asian economies are set to expand at a slightly faster pace and inflation to ease more than expected this year, according to the Asian Development Bank, as China’s growth slows.
Growth among developing Asian nations is likely to rise 5% this year, from a 4.9% forecast in April, the ADB said, on global demand for technology and semiconductors. Inflation, meanwhile, is seen cooling to 2.8% largely because of weak prices and demand in China.
Meanwhile, the region excluding China is seen rising at a marginally faster pace of 5.1%.
“We’re seeing not just a cyclical slowdown in China but a structural one,” Albert Park, chief economist at the organization, said during an online press briefing ahead of the report’s publication. “It’s really not so obvious whether that’s a realistic expectation” for China’s property sector to bottom this year and rebound in 2025, he added.
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