On the back of a recovery in demand, ongoing stimulus in developing East Asia and a rebound in consumer spending, the World Bank has raised its projection for real GDP growth for the region in 2010 to 8.7%, almost one percentage point higher than its forecast in November 2009. The research is part of the World Bank's latest East Asia Pacific Economic Update, a biannual assessment of the economies in the region, which was released yesterday.
The World Bank attributes East Asia's remarkable recovery primarily to a large and timely policy stimulus renewed inventory restocking the return of buoyant demand abroad and improving consumer sentiment. Also contributing, it said,...
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