Asia Pacific economic outlook – November 2009 |
The November 2009 edition of the Asia Pacific economic outlook gives a near-term outlook for China, India, South Korea and Singapore.
- China – It now appears highly likely that growth for the entire year will surpass the 8 percent target set by the government. China will likely dominate the global growth agenda through 2010 and have a stabilizing influence on growth in most Asian countries.
- India – The focus has shifted from drought and floods to the continued expansion of industrial production, the rising stock market, and potential monetary tightening. Planning Commission projections suggest that the economy will grow 6.3 percent this year and accelerate to 8 percent in the next financial year.
- South Korea – After registering a dramatic turnaround in the second quarter, South Korea continued to surprise on the upside in the third quarter. The predictions of a sharp decline in economic growth for the year now look overly pessimistic.
- Singapore – The city-state, one of the hardest hit by the global recession, has rebounded strongly in the second and third quarters. The rebound is expected to continue but the strength would depend on revival in external demand.
Asia Pacific economic outlook - November 2009
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