(Photo by Thanarak Khunton)MANILA - The Asian Development Bank lowered its 2016 growth forecast for developing Asia on Monday, citing the slowing US economy and near-term shocks from Britain's decision to leave the European Union. Source: Asian Development Bank Developing Asia, which groups 45 countries in the Asia Pacific region, is now expected to expand 5.6% this year, slightly weaker than a March forecast of 5.7%, the ADB said in a supplement to its Asian Development Outlook 2016. Growth forecasts for Southeast Asia were also left unchanged at 4.5% this year and 4.8% next year. India's economy is still forecast to grow 7.4% this year and 7.8% in 2017, the ADB said.

Source: Bangkok Post July 18, 2016 08:37 UTC