Rising Oil Prices to Cut East Asia Growth - ADB
Byline: EDU H. LOPEZ
Rising oil prices reaching record levels and the less favorable external environment would continue to put pressure on the projected moderate economic growth of East Asia.
The Asian Development Banks (ADB) Asia economic monitor (AEM) predicts East Asias gross domestic product (GDP) to grow by an average of 6.8 percent this year from 7.6 percent in 2004.
Excluding China, East Asia is expected to post average growth of 4.4 percent compared with 2004 growth of 5.5 percent.
China recorded GDP growth of 9.4 percent in the first quarter of 2005, and 9.5 percent in the second quarter.
A gradual softening of fixed …
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Publication information: Article title: Rising Oil Prices to Cut East Asia Growth - ADB. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: August 10, 2005. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2005 Gale Group.
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