Overview

• ADB cut developing Asia’s 2025 growth forecast to 4.8% from 4.9% and lowered 2026 to 4.5% from 4.7%.
• Southeast Asia recorded the largest downgrades, with the subregion now at 4.3% for both 2025 and 2026, including Singapore cut to 1.4% for 2026 and Thailand lowered to 1.6%.
• India was projected to expand 6.5% in FY26 and FY27 after GDP grew 7.6% in the first half of 2025, supported by stronger manufacturing, construction and public investment.
• China’s outlook was left unchanged at 4.7% for 2025 and 4.3% for 2026, with policy support expected to cushion tariff and property-sector drags.
• ADB Chief Economist Albert Park said U.S. tariffs are at historically high levels and trade uncertainty remains elevated, and the bank warned regional momentum will slow further next year.