Asian economies face first contraction in 60 years: ADB


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Asian economies face first contraction in 60 years: ADB 15 Sep 2020 08:44 (+01:00 GMT) Asian economies face first contraction in 60 years: ADB Singapore, 15 September (Argus) — The Asian Development Bank (ADB) has again cut its GDP forecasts for 2020, with it now expecting developing economies in the region to shrink for the first time in almost 60 years. The ADB expects developing economies to contract by 0.7pc this year, down from its previous prediction of 0.1pc growth made in June. It is forecasting a return to growth of 6.8pc next year, up from its earlier prediction of...