Asia Economic Growth to Slow Even If Oil Stabilizes, ADB Warns

Economic growth across Asia will likely slow even if oil prices stabilize in the coming months, as the impact of war in the Middle East ripples through industries from manufacturing to tourism, according to the Asian Development Bank.

The US and Israeli war on Iran is projected to halt developing Asia’s economic upswing, with the region’s gross domestic product expansion seen moderating to 5.1% this year from 5.4% in 2025, the ADB said in its Asian Development Outlook report released Friday.