Asian Development Bank raises growth forecast but warns over trade sanctions

The ADB report highlighted several positive trends including a rebound in exports from Asia of computer chips (Kin Cheung/AP)

Developing economies in Asia are forecast to grow at a 5.0% annual pace this year, helped by a strong US economy and surging demand for computer chips that power artificial intelligence, the Asian Development Bank (ADB) said in a report on Wednesday.

The forecast was revised upwards slightly from the ADB’s April estimate of 4.9% growth.