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Growth outlook deteriorates as global economy slows, euro area sovereign debt crisis woes linger. At the current juncture, uncertainty remains high and risks to the global economic outlook are heavily skewed to the downside. Against this backdrop, we have lowered our 2011-2012 GDP growth forecasts for a number of individual economies in the region. We expect investor sentiment towards the region to remain fragile in the short term, amid lingering euro area debt worries and deteriorating prospects for the global economy.