Structural and policy cushions mean Asean can still outperform rest of the world
Amid inflation’s creep, emerging markets may be put under the spotlight as the pace of monetary policy tightening has lagged there.
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SOUTH-EAST Asia is set to extend its economic recovery into 2023, with growth outpacing the rest of the world, even as rising inflation and geopolitical risks eat into gross domestic product (GDP) forecasts.
When asked how the economic outlook changed in the last quarter of 2022, Steve Cochrane, chief Asia-Pacific economist at Moody’s Analytics, said forecasts “have come down moderately”.
“The downside factors are the slowdown in regional and global trade in recent months, the still-high rage of core inflation across much of South-east Asia, and the persistently weak performance of the China economy,” he told The Business Times.
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