BBVA HOLDS 2013 GROWTH FORECAST FOR CHINA, BUT DOWNGRADES INDIA

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May 10, 2013

HONG KONG – In its second quarter review of the China/Asian economic outlook, BBVA Bank says Asian economies are continuing to grow amidst a gradually improving external environment and accommodative policies. “While the pace of growth in early 2013 has been somewhat slower than expected, we are keeping most of our projections unchanged, except for a downgrade to India,” BBVA says. “In China, although Q1 GDP growth disappointed to the downside, we have maintained our 8.0% growth projection for 2013-14. External demand is improving, and subdued inflation provides room for policies to remain supportive.