Asian Economies to Grow by 8.2% in 2010

Asian economies will grow by 8.2% in 2010, according to a new report.

"Strong export recovery, robust private demand, and the sustained effects of stimulus policies allowed the region to experience solid growth in the first half of 2010," The Asian Development Bank said. "This improved performance is broad-based and is projected to carry on for the rest of the year."

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The bank forecast that China, the world's second-largest economy, will grow by about 9.6% this year, while India will post growth of 8.5%.

Asian growth will slow to 7.3% in 2011, as the impact of stimulus measures moderate and growth slows in industrialized countries, the bank said.

"The one big cloud hanging over the region's otherwise sunny short-term horizon is the continued fragility and uncertainty of recovery in the industrialized countries," the bank said.

The bank forecast Asian inflation of 4.1% this year and 3.9% in 2011.