Economic Snapshot for East & South Asia
October 21, 2021
Economic outlook for 2022 moderates
Regional GDP growth should moderate slightly in 2022 due to a less favorable base effect. That said, ongoing fiscal and monetary stimulus should support output, while less volatile U.S. foreign policy under President Biden bodes well for trade. Covid-19-related uncertainty clouds the outlook, however.
Inflation to gain momentum markedly compared to 2020
Regional inflation was stable at August’s 1.0% in September. Price pressures eased slightly in China and Korea, while inflation ticked up in Taiwan. Inflation is expected to moderate in 2021, but should gain momentum next year as recovering output boost price pressures.
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5 years of East & South Asia economic forecasts for more than 30 economic indicators.
East & South Asia Economic News
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New Zealand: RBNZ tightens its stance again in November
November 24, 2021
At its 24 November meeting, the Reserve Bank of New Zealand (RBNZ) decided to hike the official cash rate to 0.75% from 0.50%, marking the second consecutive increase.
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Taiwan: Industrial output records slowest expansion since February in October
November 23, 2021
Industrial output increased 11.2% compared to the same month of the previous year in October, which was a deterioration from September's 11.6% increase.
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Korea: Consumer confidence hits highest reading since June in November
November 23, 2021
Consumer confidence rose to 107.6 in November from October's 106.8.
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China: Retail sales growth gains steam in October
November 15, 2021
Retail sales expanded 4.9% year-on-year in October (September: +4.4% yoy), above market expectations.
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China: Nominal fixed investment is muted in October
November 15, 2021
Nominal urban fixed asset investment grew 6.1% in year-to-date terms in October (September: +7.3%).
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