Manila - Economic growth in East Asia will slow down in 2008 and 2009, weighed down by higher-than-expected inflation and a protracted slowdown in the United States, the Asian Development Bank (ADB) said Tuesday.
In the July issue of its Asia Economic Monitor report, the Manila-based ADB said East Asia's economic growth will moderate to 7.6 per cent in 2008, from 9 per cent in 2007.
The same growth rate is forecast for 2009.
The forecast covers China, Hong Kong, South Korea, Taiwan and the members of the Association of South-East Asian Nations (ASEAN) - Brunei, Indonesia, Malaysia, the Philippines, Thailand, Singapore, Vietnam, Laos, Cambodia and Myanmar.