Economic growth in developing Asia and the Pacific remains steady, but US policy changes under the incoming Trump administration may impact the region.
Asia and the Pacific is continuing its solid economic recovery thanks to healthy domestic demand, stable financial conditions, and a resilient services sector, while inflation in the region is receding.
This edition shows how a modest improvement in economic fundamentals has buoyed East Asia’s local currency bond (LCY) markets, but potential renewed increases in inflation and further interest rate hikes could pose risks for the region’s borrowers.
This edition presents recent developments in emerging East Asian local currency bond markets and features a special section about how increased climate risk awareness can influence investors’ trading decisions.
Exports from developing Asia weakened in the first quarter of 2023 as global demand slowed. However, consumption and investment are forecast to boost aggregate regional growth to 4.8% in 2023, as earlier forecast, with the projection for 2024 revised down only marginally to 4.7%.
This edition notes slowing growth in the last quarter of 2022 in emerging East Asia’s local currency (LCY) bond market, though aggregate issuance of LCY bonds by these economies reached a record high in 2022.
This publication highlights brighter economic prospects for Asia and the Pacific amid ongoing challenges. It forecasts growth across the region’s developing economies of 4.8% this year and in 2024, up from 4.2% in 2022.
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Economic growth in developing Asia and the Pacific remains steady, but US policy changes under the incoming Trump administration may impact the region.