Asia-Pacific economies will outstrip their global peers this year and next, according to Moody’s Investors Service. But the rebound masks deep scars from the Coronavirus pandemic, according to the world’s biggest ratings company. “We forecast about 30 percent of APAC economies will face a modest degree of scarring, experiencing an output decline of between 2 […]
Read MoreBANGKOK/KUALA LUMPUR: Fresh outbreaks of the Delta coronavirus variant in Southeast Asia have crippled its factory sector, disrupting global supplies of goods such as rubber gloves, semiconductors and SUVs and threatening the US$3 trillion region’s recovery. A series of factory surveys this week showed business activity across most Southeast Asian economies fell sharply in July, […]
Read MoreKUALA LUMPUR: Moody’s Investors Service expects Asia-Pacific’s economic activity likely will rebound strongly in 2021 and 2022 as compared with recent performance. In its report on Tuesday, it pointed out however, region’s overall output will likely fall short of pre-pandemic forecasts by 2023 because of deep economic scars from the pandemic. The rating agency said […]
Read MoreManufacturing managers in Southeast Asia saw a slump in activity as the region grapples with one of the world’s worst Covid-19 outbreaks, while North Asia continued to see a pick up as the global economy recovers. In Southeast Asia, which has emerged as one of the world’s worst-hit pandemic areas in recent weeks, Indonesia’s IHS […]
Read MoreThe International Monetary Fund (IMF) has cut its annual growth forecast for Emerging Asia. It warned that a slower-than-expected vaccine rollout, further virus mutations and tighter financial conditions are risks in the region. It cut its forecast for Gross Domestic Product (GDP) in Emerging and Developing Asia by 1.1 percentage points to 7.5 percent this […]
Read MoreSlow vaccination rates and the emergence of the Delta variant of the Coronavirus has forced Moody’s Analytics to revise its gross domestic product (GDP) forecasts for three ASEAN nations. The agency said that the highly contagious new variant is threatening the economic recovery anticipated in the second half of 2021. Moody’s cut its forecast for […]
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