News: ADB trims 2016 growth forecast for developing Asia on Brexit vote

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    MANILA, July 18 (Reuters) - The Asian Development Bank on Monday lowered its growth forecast for developing Asia this year, citing the slowing U.S. economy, and near-term market shocks from Britain's Brexit vote.

    Developing Asia, which groups 45 countries in the Asia Pacific region, is now expected to expand 5.6 percent this year, slightly weaker than a March forecast of 5.7 percent, the ADB said in a supplement to its Asian Development Outlook 2016.

    The Manila-based lending body kept its 2017 growth estimate for the region at 5.7 percent, however.

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