Economic Snapshot for ASEAN
July 20, 2022
Outlook for 2022 remains positive
The economy should expand at a faster pace this year than in 2021. The relaxation of Covid-19 measures coupled with accumulated savings and tighter labor markets should buttress household spending. Moreover, the tourist sector will benefit from easing border restrictions. Elevated inflation, supply disruptions and China’s renewed lockdowns cloud the outlook.
Inflation to rise in 2022
According to preliminary data, regional inflation jumped to 5.1% in June from 4.5% in May. Faster price increases were recorded in heavyweights Indonesia, Philippines, Thailand and Vietnam, as well as in Laos. High energy and commodity prices, disrupted supply chains and recovering economic activity will fuel inflation this year.
5 years of ASEAN economic forecasts for more than 30 economic indicators.
ASEAN Economic News
August 10, 2022
Retail sales increased 8.7% year on year in July (June: +4.1% yoy).
August 9, 2022
Industrial output grew 12.1% compared to the same month a year earlier in June, which was above May's 4.1% increase.
August 8, 2022
Consumer prices fell 0.16% in July over the previous month, contrasting the 0.90% increase logged in June.
August 4, 2022
The Purchasing Managers’ Indices (PMIs)—produced by the Singapore Institute of Purchasing and Materials Management (SIPMM)—for the manufacturing sector dipped in July, as did the electronics PMI. However, both remained within expansionary terrain.
August 2, 2022
Consumer prices rose 0.64% over the previous month in July, picking up from the 0.61% rise recorded in June.
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