World Bank cuts GDP forecast for China, Asian region

FXStreet (Bali) - The World Bank has cut its GDP growth forecast for China and the Asian region.

According to the World Bank, China is set to grow at 7.4% in 2014, and 7.2% in 2015, which represents a 0.2 bp downward revision from their April forecast of 7.6% in 2014 and a 0.1bp cut from a 7.5% previously expected for 2015.

Meanwhile, the Asian region, not including China, is now expected to grow at 4.8% in 2014 and 5.3% in 2015.