For the six major ASEAN countries, recession is a thing of the past. According to the Southeast Asian Economic Outlook of 2010, presented by the Organisation for Economic Co-operation and Development (OECD), the six major ASEAN countries have rebounded from the global economic crisis, with medium-term growth prospects returning to pre-crisis levels.
With economic recovery underway across the region, GDP growth is expected to average 6 per cent annually across the ASEAN-6 countries over the 2011-2015 period, which is about the same level as the period 2003-2007.
However, according to economists in the OECD Development Centre, future growth would still need to be more balanced across the ASEAN countries and that both regional integration and national efforts will help promote such balanced growth in the region.
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