Economic Snapshot for East & South Asia
April 27, 2022
GDP growth to moderate in 2022
Regional GDP growth is expected to moderate notably this year due to a fading base effect. That said, domestic demand should strengthen, supported by upbeat household spending amid tighter labor markets and ongoing stimulus measures. Pandemic-related uncertainty, volatile commodity prices and some ongoing turmoil in China’s property sector cloud the outlook.
Inflation to average higher compared to 2021
Regional inflation rose to 1.8% in March from 1.2% in February. Price pressures increased in China, while inflation in Korea also edged higher. Inflation should average higher this year compared to 2021, likely due to tighter labor markets and increased household spending. Prolonged supply chain disruptions and elevated energy prices pose further upside risks.
.
Sample Report
5 years of East & South Asia economic forecasts for more than 30 economic indicators.
East & South Asia Economic News
-
Australia: RBA hikes rate in May; hints at further hikes ahead
May 6, 2022
At its monetary policy meeting on 3 May, the Reserve Bank of Australia (RBA) hiked the cash rate from an all-time low of 0.10% to 0.35%, and hinted at further tightening ahead. The Bank raised rates based on the economy’s resilience to global supply bottlenecks, the headwinds posed by the fallout of the war in Ukraine and mounting inflationary pressures, which are being made worse by domestic capacity constraints.
-
Hong Kong: PMI picks up in April
May 5, 2022
The S&P Global Purchasing Managers’ Index (PMI) jumped to 51.7 in April from March's 42.0.
-
Hong Kong: Decline in retail sales softens in March
May 5, 2022
Retail sales fell 16.9% year-on-year in March (February: -17.5% yoy).
-
Australia: Retail sales continue to grow in March
May 5, 2022
Retail sales increased 1.6% in month-on-month seasonally-adjusted terms in March, following February's 1.8% increase.
-
New Zealand: Unemployment rate stable in Q1
May 5, 2022
The seasonally-adjusted unemployment rate remained stable in Q1 at Q4 2021’s 3.2%, which had marked the lowest print since 1986.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
