East & South Asia Economic Forecast

Economic Snapshot for East & South Asia

September 22, 2021

Economic outlook for 2021 brightens

Regional GDP growth should accelerate robustly this year as external demand rebounds. In 2022, ongoing fiscal and monetary stimulus should further support the bounce-back, while less volatile U.S. foreign policy under President Biden bodes well for trade. Covid-19-related uncertainty clouds the outlook, however, amid the increase in new variants of the virus.

Inflation to gain momentum markedly compared to 2020

Regional inflation ticked down to 1.1% in August from 1.2% in July. Price pressures eased slightly in China, while inflation was unchanged in Korea. Inflation is expected to moderate in 2021, but should gain momentum next year as some lingering supply chain disruptions and recovering output boost price pressures.

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