ADB trims developing Asia's 2021 economic growth forecast to 7.2%

 Developing Asia's economic growth this year will be slightly lower than previously projected, Asian Development Bank said on Tuesday, citing the resurgence of Covid-19 infections in countries

MANILA (Reuters) - Developing Asia's economic growth this year will be slightly lower than previously projected, the Manila-based Asian Development Bank said on Tuesday, citing the resurgence of COVID-19 infections in countries.

The ADB said recovery was underway in "developing Asia", referring to the bank's 46 members, including China and India, but growth was revised down to 7.2% from 7.3% projected in its Asian Development Outlook (ADO) report released in April.

The bloc's combined economy was projected to expand 5.4% next year, compared with the April forecast of 5.3%.

"Asia and the Pacific's recovery from the COVID-19 pandemic continues, although the path remains precarious amid renewed outbreaks, new virus variants, and an uneven vaccine rollout," ADB Chief Economist Yasuyuki Sawada said.

In its ADO supplement, the ADB maintained its growth forecasts for China at 8.1% this year and 5.5% next year.

But it revised growth forecasts for India to 10% this year and 7.5% next year, compared with the April projections of 11% and 7.0%, respectively.

In Southeast Asia, the ADB revised 2021 growth forecasts to 4.1% from 4.5% for Indonesia; 2.0% from 3.0% for Thailand; 5.5% from 6.0% for Malaysia; and 5.8% from 6.7% for Vietnam.