ASEAN+3 growth outlook dims as China's 2022 forecast cut to 3.8%

Think tank AMRO lifts overall inflation forecast for 13 economies to 6.2%

For China, which maintains a zero-tolerance approach to containing COVID-19, AMRO slashed its growth forecast to 3.8% from 4.8%. © Reuters

TSUBASA SURUGA, Nikkei staff writer

October 6, 2022 17:28 JST

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.