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OECD projects stable growth for China and weak outlook for India
By TII News Service
Sep 10, 2013 , Paris |
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AS per OECD-tailored latest Asian
Business Cycle Indicators (ABCIs), there are signs of growth stabilisation
for China and a more positive outlook for the Philippines and Singapore,
while still weak growth prospects for India.
Prolonged external headwinds have weighed on growth in Southeast Asia. The slowdown
in China have weakened the growth momentum of ASEAN. Indeed, Thailand entered
a technical recession in the second quarter of 2013, while Indonesia’s grow mometum
is slowing. In Malaysia and Viet Nam, while real GDP improved slightly in the
second quarter of 2013, underlying growth momentum was subdued. On the other
hand, Singapore’s GDP grew at a faster pace on the back of improvement in trade-related
sectors as well as resilience in domestics-oriented industries. The Philippines
economy was the strongest performer in the region, largely due to its strong
domestic demand.
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