Asian Development Bank Trims Growth Forecast

The Asian Development Bank has cut its growth forecast for the region’s developing countries, citing weakness in its two largest economies and concerns over a possible reduction in U.S. stimulus measures.

In its twice-yearly report issued on Tuesday, the bank predicted developing Asia will grow at a rate of 6 percent in 2013, down from its April estimate of 6.6 percent. For 2014, it expects growth will accelerate slightly to 6.2 percent, down from its prior estimate of 6.7 percent.

The …

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