World Bank revises down 2012 GDP growth estimate in E. Asia to 7.2%
10:11, 8 October 2012
SINGAPORE. October 8. KAZINFORM The economy in the East Asian region excluding Japan will grow 7.2 percent in 2012, down 0.4 percentage point from a projection released in May, and stage a modest recovery next year, the World Bank said in an economic outlook report Monday.
The Washington-based lending agency attributed the downward revision in the region's projected real gross domestic product growth to sluggish exports blamed on the eurozone debt crisis, Kyodo reports.
GDP growth in the region could recover to 7.6 percent in 2013 with weak exports being more than offset by brisk domestic demand, the World Bank said. GDP grew by 8.2 percent in the region in 2011.
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