SINGAPORE -- Aggressive monetary tightening measures, coupled with potential recessions in the U.S. and Europe, are likely to weigh on economic growth in Asia this year, according to a new economic outlook released Thursday.
The ASEAN+3 Macroeconomic Research Office (AMRO), a think tank that monitors the 10 members of the Association of Southeast Asian Nations, as well as China, Japan and South Korea, downgraded its annual growth forecast for the region to 3.7% from the previous quarterly forecast of 4.3% in July.
