ADB cuts developing Asia's 2016 growth forecast
The Asian Development Bank (ADB) on Monday trimmed its 2016 growth forecasts for developing economies in Asia-Pacific region to 5.6% as against the earlier estimate of 5.7%. This follows a slowing US economy and the near-term impact of the 'Brexit' vote, analysts said. India's economy is still forecast to grow 7.4% this year and 7.8% in 2017, the ADB added.