World economy set for slightly brighter year: poll

"And while the fiscal drag in the U.S. will no doubt ripple through the region, a sense of strengthening underlying momentum and fading tail risks will provide support for growth."

The likes of Singapore, Hong Kong and South Korea bore the brunt of the downgrades to the outlook among Asian economies.

In terms of monetary policy, economists expect few major shifts ahead, especially among major advanced economies.

"The stage is set for an improvement in business conditions over the next few months, but with no major policy shifts in prospect beyond Japan, the recovery is likely to be gradual," said Simon Hayes, chief UK economist at Barclays.

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