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Asian economic powerhouses subdued, recovery to be muted

Optimism around Asia is fading with growth in its biggest economies slowing considerably this year, compelling central banks to keep policy accommodative for longer, though the worst of the downturn may be over, a Reuters poll showed on Thursday.

As Europe’s debt crisis drags on and the US economy slows, weighing on Asia’s exports, economists are cutting their growth forecasts for most of the economies in the region.

But they remain cautiously optimistic that Asia would start to recover by the end of this year, even if some are skeptical about the pace at which it would do so.

(Source: Jakarta Globe )