Moody’s mood darkens for GDP growth in Asia

[rooster59]

Moody’s mood darkens for GDP growth in Asia

By The Nation

 

 

Moody’s Investors Service has trimmed its GDP growth forecast for 16 economies in the Asia-Pacific region.

 

It said on Friday that, of the 16, Hong Kong and Singapore have shown particularly weak expansions this year, with large deterioration in real GDP growth compared to the first half of 2018.

 

Moody’s said externally oriented economies saw a sharper slowdown during the first six months of 2019, while domestic factors have had a greater influence on growth in Japan, India and the Philippines.

 

Moody’s also pointed out that the weaker global economy has stunted Asian exports and the uncertain operating environment has weighed on investment.

 

In particular, softer capital formation has mirrored the weakening in exports, especially for trade-reliant economies such as Korea and Hong Kong.

 

As for the Philippines, the delay in the passing of the government budget has disrupted its infrastructure build-out, while in Malaysia and Sri Lanka, fiscal tightening has posed drags. 

 

With India, a moderation in business sentiment and slow flow of credit to corporations have contributed to weaker investment.

 

Moody’s said the slower overall GDP growth in the region had not yet weighed significantly on broader employment conditions, while generally benign inflation supports purchasing power.

 

Moody’s report covers Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, Mongolia, New Zealand, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.

 

Source: https://www.nationthailand.com/business/30375271

 

-- © Copyright The Nation Thailand 2019-08-24

Follow Thaivisa on LINE for breaking Thailand news and visa info

[Pilotman]

good news.  Maybe we will see Asian currencies weaken, a lot.  China is already showing the way, now we need the rest to follow.  It will even benefit the Thais in the short and  medium term. 

[Isaan sailor]

Thailand’s hellbent on crashing exports and tourism.  Too many intoxicating Chinese hot money inflows from bond sales over at Bank of Thailand...

[Stargeezr]

Don't worry the world recession is just around the corner.  Just do not tell

the Donald, as today the US is seemingly doing okay, except for their debt,

that had not gone down or will in our life times. News in Canada is a bit more

realistic with some finance people saying,  get ready..

Geezer