ADB cuts Southeast Asia growth outlook, blames tensions

HONG KONG, July 18 (AFP) :  The Asian Development Bank on Friday downgraded its 2014 economic outlook for Southeast Asia, citing political tensions in Thailand and Vietnam and soft external demand in Indonesia.

The Manila-based lender said in a supplement to its economic outlook for the region that it expected gross domestic product (GDP) to grow 4.7 per cent for the year, compared with its April projection of five per cent.

Indonesia's growth for the first quarter of the year slowed to 5.2 per cent with low commodity prices and a temporary export ban on selected minerals slowing recovery in net exports, the bank said.