Economics

Daily analysis of the latest economic data points and policy developments in Asia and the major economies of the world.

Asia

Philippines / GDP

Philippines: Strong at 6.7% pace

January 23, 2018
Philippines: Strong at 6.7% pace

Strong domestic demand and investment will likely keep the Philippine economy humming along nicely at a 6.7% pace in 2018 ad 2019 after a similar 6.7% expansion last year. We expect Bangko Sentral ng...

India / GDP

Trade deficit widens on commodities

January 16, 2018
Trade deficit widens on commodities

India’s December trade numbers were a mixed bag. Whilst exports fared better on nominal terms, a strong jump in imports saw the trade deficit deteriorate sharply. The cumulative April-December goods ...

India / Rates

Firm inflation triggers policy debate

January 15, 2018
Firm inflation triggers policy debate

With inflation in India hovering at a 15-month high – amid signs of economic recovery – the Reserve Bank of India will have to extremely careful in its guidance on the direction of rates, inflation, ...

Key Indicators

  • GDP
  • Inflation
  • Currency
  • Interest Rates
  • GDP
  • Inflation
  • Currency
  • Interest Rates

GDP growth, % YoY

201520162017e2018f2019f
China6.96.76.86.46.2
Hong Kong2.42.03.72.52.5
India*7.58.07.16.67.2
Indonesia4.95.05.15.35.4
Malaysia5.04.25.75.05.0
Philippines5.96.96.76.76.7
Singapore2.02.03.23.02.7
South Korea2.82.83.12.92.9
Taiwan0.81.42.42.52.4
Thailand2.93.23.84.04.0
Vietnam6.76.26.66.46.6
Eurozone1.91.82.11.91.9
Japan1.111.61.10.9
United States**2.61.52.22.42.5
* refers to year ending March ** eop for CPI inflation
Source: CEIC and DBS Group Research

CPI inflation, % YoY

201520162017e2018f2019f
China1.42.01.62.12.2
Hong Kong3.02.41.72.02.5
India*6.04.94.53.44.2
Indonesia6.43.53.84.04.5
Malaysia2.12.13.73.53.0
Philippines1.41.83.23.63.8
Singapore-0.5-0.50.61.01.8
South Korea0.71.01.91.81.8
Taiwan-0.31.40.61.01.0
Thailand-0.90.20.71.51.5
Vietnam0.62.73.73.63.8
Eurozone00.21.51.21.6
Japan0.8-0.10.40.61
United States**0.11.31.61.81.8
* refers to year ending March ** eop for CPI inflation
Source: CEIC and DBS Group Research

Exchange rates, end of period

1Q182Q183Q184Q181Q19
China*6.746.816.886.816.74
Hong Kong7.827.827.837.827.82
India65.2066.1067.0067.2067.40
Indonesia13,70013,80013,90014,00014,050
Malaysia4.284.304.324.304.28
Philippines51.652.052.452.853.2
Singapore**1.381.391.401.391.38
South Korea1,1501,1571,1641,1571,150
Taiwan
Thailand33.834.134.434.133.8
Vietnam***22,82022,87022,92022,97023,020
Eurozone1.141.121.101.121.14
Japan116119122121120
United States
* 1-yr lending rate; ** 3M SOR ; *** prime rate
Source: Bloomberg and DBS Group Research

Policy interest rates, end of period

1Q182Q183Q184Q181Q19
China*4.354.354.354.354.35
Hong Kongn.a.n.a.n.a.n.a.n.a.
India6.006.006.006.006.25
Indonesia4.254.254.254.504.75
Malaysia3.003.003.253.503.5
Philippines3.253.503.754.004.25
Singapore**1.401.651.902.152.15
South Korea1.501.751.752.002.00
Taiwan1.381.381.381.501.5
Thailand1.501.501.501.501.75
Vietnam***6.256.256.256.256.5
Eurozone0.000.000.000.000.00
Japan-0.10-0.1-0.10-0.1-0.1
United States1.501.752.002.252.25
* 1-yr lending rate; ** 3M SOR ; *** prime rate
Source: Bloomberg and DBS Group Research

From the Asian Insights Office

China: Defining the New Normal

China’s push for growth-at-any-cost is being replaced with the “New Normal”.It will fundamentally change how business and investing are done.

Read More

DBS Asian Insights

2017 Global Macro Outlook

December 14, 2016

Global

Global / Currencies

From US shutdown to BOJ/ECB meetings

January 23, 2018
Global

The market’s focus has shifted to Europe and Japan as it looks for guidance on where rates are going. For more on currencies and rates, check out our Overnight Wrap and the Day Ahead.

Global / GDP

This Week: Policy action from Europe, Japan, and Malaysia

January 22, 2018
Global

While no action is expected from the European Central Bank, Bank of Japan, and Bank Negara Malaysia, the policy language and guidance will be of considerable interest.

Insights and Analysis

Global / Insights

Economics, Currencies & Rates Research...

January 22, 2018

DBS tracks developments in the economies, foreign exchange and fixed income markets of the Asia-11 (China, Hong Kong, Taiwan, Korea, Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam...

Key Summary Points
  • Access our list of reports
  • Get up-to-date analysis of economic data
  • Get our insights on the G3 and Asia-11 economies, currencies and fixed income space

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