Asia Pacific Economic Outlook - September 2012
The September 2012 edition of the Asia Pacific Economic Outlook gives a near-term outlook for Australia, China, India, and South Korea.
Australia: A weakening housing market and an economic slowdown in China are taking their toll on Australia’s economic outlook. Private consumption and output from the mining industry may help the economy expand by about 3.2 percent this year.
China: An uncertain global economic environment—and especially the Eurozone’s economic woes—continue to weigh on Chinese exports. The Chinese government is attempting to offset weakening external demand and soften the country’s economic landing.
India: Leading indicators cloud India’s economic outlook. An erratic monsoon, decelerating growth, inflationary pressures, policy uncertainty, and ebbing consumer and business confidence are weighing on India’s growth prospects.
South Korea: Weak export growth, lackluster domestic consumption, and high household indebtedness do not augur well for South Korea’s projected growth. While the country’s economic stability does not face any immediate risks, the outlook for growth has been revised downward, and current projections place GDP growth between 1.5 and 2.5 percent for 2012.