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ADB raises Asia growth forecast as global conditions improve

HONG KONG (AP) — The Asian Development Bank is raising its growth forecast for Asia’s developing economies because global trade and conditions in the world’s biggest economies are improving more than expected.

The Manila-based lender said Tuesday it now predicts the region’s economy will expand 5.9 percent this year and 5.8 percent in 2018.

That’s up from the ADB’s earlier forecast of 5.7 percent growth for each of those two years.

The bank said a revival in trade, robust expansion in the U.S., Japan and the eurozone and a better than expected performance in China are lifting the outlook for the 45 countries covered in its latest update.

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