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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Australia: Retail sales growth jumps in October
December 2, 2021
Retail sales climbed 4.9% in month-on-month seasonally-adjusted terms in October, which followed September's 1.3% increase and benefited from easing Covid-19 restrictions.
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Korea: Inflation comes in at highest level since December 2011 in November
December 2, 2021
Consumer prices rose 0.40% in November over the previous month, accelerating from October's 0.13% increase.
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Taiwan: Manufacturing PMI dips in November
December 1, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) fell from 55.2 in October to 54.9 in November.
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China: Manufacturing PMI picks up in November, non-Manufacturing PMI ticks down
November 30, 2021
The National Bureau of Statistics' Manufacturing Purchasing Managers' Index (PMI) came in at 50.1 in November, up from October's 49.2.
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Korea: Industrial output bounces back in October amid favorable base
November 30, 2021
Industrial output expanded 4.5% in year-on-year terms in October, which contrasted September's 1.8% decrease, albeit largely benefiting from a favorable base effect.
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