Asian Development Bank raises growth forecast for region, but warns of risks from trade sanctions

AP Business Writer

The Asian Development Bank says it expects developing economies in the region to grow at a 5% annual pace this year, up slightly from its earlier estimate of 4.9% growth. The regional lender said the revision reflects faster-than-expected growth in the United States and some other economies, though it warned of potential risks from protectionist measures, such as higher tariffs on exports from China, depending on the outcome of the U.S. presidential election. The report released Wednesday highlighted several positive trends, including a rebound in exports of computer chips and other advanced electronics this year due to rapid adoption of artificial intelligence. It also noted that energy and food prices are moderating.