THE
OECD Asian
Business Cycles Quarterly has stated that the recovery of ASEAN economies
continues to be on track in Q3.
A rebound based on
sound exports and strong domestic demand has been recorded recently. ‘Overall,
growth prospects are stronger on average for ASEAN than for the Emerging Asia
area including China and India,’ said Kensuke Tanaka, Project Manager and
Economist at the OECD Development Centre. However, the leading indicators
suggest that growth in many ASEAN countries, while still robust, may be
weakening.
Looking ahead, most leading indicators for ASEAN economies
suggest a moderation of the growth momentum in the next quarter. Continued signs
of slowing of the Chinese economy constitute a negative factor for the outlook
for ASEAN economies, while uncertainty about growth prospects for OECD economies
remains.
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