Developing Asia's growth forecast cut

MANILA: The Asian Development Bank (ADB) has said it has lowered its growth forecasts for developing Asia this year and the next as a softer outlook for the world’s second biggest economy China meant subdued economic activity elsewhere in the region.

The bank lowered its growth forecast for developing Asia by 0.3 percentage points to 6.3% in 2013 and 6.4% in 2014, the Manila-based development lender said in a supplement to its Asian Development Outlook 2013 first released in April.