Economic Snapshot for ASEAN
November 25, 2020
The regional economy is forecast to recover well in 2021 from this year’s sharp contraction
The regional economy is forecast to recover well in 2021 from this year’s sharp contraction, with domestic demand set to be buoyed by an uptick in consumer and capital spending. However, the spike in Covid-19 cases in Europe and the U.S. casts a shadow over the outlook, potentially dragging on regional exports to key markets at the outset of the year.
ASEAN Economic News
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Indonesia: Retail sales improve in March; further improvement expected for April
May 11, 2021
Retail sales fell 14.6% in March (February: -18.2% yoy).
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Indonesia: GDP records best reading since Q1 2020 in Q1
May 6, 2021
GDP slid at a softer rate of 0.7% year-on-year in the first quarter, above the 2.2% contraction logged in the fourth quarter of last year.
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Malaysia: Merchandise exports jump year-on-year in February, surprising on the upside
May 4, 2021
Merchandise export growth soared to an over 10-year high in March, jumping 36.4% year-on-year in USD terms, following February’s 20.6% rise.
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Malaysia: Manufacturing PMI hits new record high in April
May 3, 2021
The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, jumped to 53.9 in April, following March’s 49.9, logging the best reading on record.
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Philippines: Manufacturing PMI falls back to contractionary territory in April
May 3, 2021
The manufacturing Purchasing Managers’ Index (PMI), produced by IHS Markit, dropped to 49.0 in April, following March´s 52.2.
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