According to the International Monetary Fund (IMF), the Asia Pacific region is expected to experience strong economic growth in the coming years. The region is predicted to grow by 6.5% in 2023, reflecting strong domestic demand, robust exports, and effective policy support. However, recent surveys suggest that Asian manufacturing has remained subdued in June. China is seeing modest growth, while Taiwan, Vietnam, and India are experiencing weak or robust expansion. In terms of industrial production, countries like Korea, Taiwan, and Thailand have seen an increase in output, while Japan and Singapore have reported a decline. The outlook for exports in the region remains uncertain, with China, Japan, and Singapore experiencing drops, while South Korea has reached a 9-month high. Overall, the path for APAC exports is expected to continue declining due to weaker demand from the US and EU.
Source link : Asia Pacific: Macro Snapshot June 2023 by Headline Editor
