Posts Tagged ‘UBS’

Commodities slide on Asian growth fears

Wednesday, October 10th, 2012

Commodity Trading in AsiaThe World Banks’ economic forecast for Asia, released last Monday, slashed its predictions for growth in the region, dropping from 7.6% to 7.2% for 2012 – a whole percentage point below the previous year.

The Bank cited weak demand for Asian exports as European economies still struggle to return to growth in the shadow of austerity and the Euro debt crisis. The figures were re-iterated at the IMF and World Bank Group annual meetings in Tokyo on Friday, where IMF chief Christine Lagarde warned of the ‘narrow path’ between austerity and growth.