Economic Snapshot for East & South Asia
August 25, 2021
Economic outlook for 2021 brightens
Regional GDP growth should accelerate robustly this year as external demand rebounds. 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 fall markedly compared to 2020
Regional inflation was stable at June’s 1.2% in July. Price pressures eased slightly in China, while inflation accelerated robustly in Hong Kong and Korea. Over 2021 as a whole, inflation should fall markedly compared to 2020 as the impact of pandemic-related supply chain disruptions fades.
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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: Consumer sentiment increases in September
September 17, 2021
The Westpac-Melbourne Institute consumer sentiment index rose to 106.2 in September from 104.1 in August.
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Australia: Lockdowns hit Australia’s labor market in August
September 17, 2021
Seasonally-adjusted employment fell by a sharp 146,300 in August, following 3,100 jobs added in July.
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New Zealand: Economic growth accelerates in Q2 amid lower restrictions
September 17, 2021
GDP expanded 2.8% in seasonally-adjusted quarter-on-quarter terms in Q2, as growth in external demand surged amid easing Covid-19 restrictions.
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New Zealand: Consumer optimism weakens in August
September 14, 2021
The ANZ-Roy Morgan consumer confidence indicator edged down to 109.6 in August from July’s 113.1.
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New Zealand: Business confidence improves in September
September 14, 2021
The ANZ bank business outlook indicator improved in September.
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