East Asia's growth forecast is maintained at 6.0% for 2015 and 2016. The PRC will expand 6.9% this year, slightly more than the 6.8% previously projected. Despite an ongoing housing overhang and excess industrial capacity, the PRC's economy has remained resilient, supported primarily by private consumption and services.

Central bank and government measures to stabilize the economy and to bolster small and medium-sized enterprises are also providing some comfort, and in 2016 the economy should expand 6.7%, supported by further growth in consumption and services.

South Asia's outlook remains positive, with the subregion on track to meet previous growth projections of 6.9% in 2015 and 7.3% in 2016. Continued strength in India is supported by growth in industrial production, public capital expenditure, and retail sales. This is helping to offset slowdowns seen for Bhutan, the Maldives, and Nepal.

Growth prospects for Southeast Asia also remain unchanged from ADB's September Update, with forecasts at 4.4% for 2015 and 4.9% for 2016. A slight softening is seen for Indonesia, the largest economy in the subregion, as a result of lower-than-expected budgetary disbursements and ongoing weakness in exports.

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