Asia pacific economic outlook – October 2008 |
The October edition of the Asia Pacific economic outlook gives a near-term outlook for China, New Zealand, Philippines, and Singapore.
- China – The Chinese economy faces an imminent slowdown. It is very likely that the policy of the government and the central bank will be expansionary to try and give a boost to the economy.
- New Zealand – The New Zealand economy entered into a recession in the second-quarter of the year on the back of a bad housing market. It is very likely that the central bank will continue to cut rates in the near-term.
- Philippines – The Philippines faces a double threat of high inflation and slowing economic growth. The government is likely to increase fiscal spending to counteract the slowdown.
- Singapore – It is expected that Singapore will enter a recession in the third-quarter on the back of a slowdown in exports as well as manufacturing growth. Inflation is also at fairly high levels. The central bank could let the currency appreciate to cool down inflation.
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Asia Pacific economic outlook - October 2008
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