Asian Development Outlook (ADO) September 2023

<p>Asia and the Pacific is continuing its solid economic recovery thanks to healthy domestic demand stable financial conditions and a resilient services sector while inflation in the region is receding.</p><p><br></p><p>This update revises slightly down the region's growth forecast for this year to 4.7% on slower expansions in East Asia South Asia and Southeast Asia. The growth forecast for 2024 is unchanged at 4.8%. With price pressures in the region remaining in check the inflation forecast is revised down to 3.6% for 2023 but is revised up slightly to 3.5% for 2024. Importantly headline and core inflation seem to have peaked for the region but there is some variation across economies. </p>