INSUBCONTINENT EXCLUSIVE:
Report said externally oriented economies in the region saw a sharper slowing during the first 6 months.Amid a worsening economic slowdown,
US rating agency Moody's on Friday lowered India's GDP growth forecast for the 2019 calendar year to 6.2 per cent, from its earlier
estimate of 6.8 per cent, and also revised downwards its growth forecast for 16 economies in the Asia-Pacific region.The Moody's Investor
moderation in business sentiment and slow flow of credit to corporates have contributed to weaker investment in India," a Moody's release
ratings multinational.The report said externally oriented economies in the region saw a sharper slowing during the first six months of 2019,
while domestic factors have had a greater influence on growth in India, Japan and the Philippines.Of the 16 economies surveyed, Hong Kong
and Singapore have shown particularly weak expansion this year, with very large deteriorations in real GDP growth when compared to the first
half of 2018."In particular, softer capital formation has mirrored the weakening in exports, especially for trade-reliant economies such as
slower overall GDP growth in the region has not yet weighed significantly on the broader employment situation, while generally benign
inflationary conditions have supported purchasing power across Asia-Pacific.The report covers Australia, China, Hong Kong, India, Indonesia,
Japan, Korea, Malaysia, Mongolia, New Zealand, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.Get Breaking news, live
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