Economics

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

Asia

China / Inflation,GDP

Power shortage weighs down China’s growth

October 18, 2021
Power shortage weighs down China’s growth

GDP growth slowed markedly to 4.9% YoY in 3Q21 from 7.9% in 2Q21. On a QoQ basis, it decelerated to 0.2% from 1.3%.

Asia / GDP

Macro Insights Weekly: Property price trends in Asia

October 18, 2021
Macro Insights Weekly: Property price trends in Asia

Exceptionally easy monetary policy has fuelled asset price boom in the Asia, with equity markets trading at record valuations and property markets strengthening in a number of economies.

Singapore / GDP

Singapore: Raising GDP growth forecast

October 14, 2021
Singapore: Raising GDP growth forecast

We have raised full year GDP growth to 6.7%, up from 6.3% previously, given a slightly stronger than expected 3Q21 growth performance and upward revision in 2Q figure.

Key Indicators

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

GDP growth, % YoY

20192020f2021f2022f
China6.12.38.86.0
Hong Kong-1.2-6.16.03.0
India4.7-7.18.06.0
Indonesia5.0-2.13.54.5
Malaysia4.3-5.64.05.0
Philippines**5.9-9.54.26.5
Singapore0.7-5.46.33.2
South Korea2.0-1.03.82.8
Taiwan3.03.15.02.8
Thailand2.4-6.10.63.5
Vietnam7.02.95.06.8
Eurozone0.9-6.84.34.0
Japan0.3-4.82.21.5
United States***2.2-3.56.03.0
** new CPI series *** eop for CPI inflation
Source: DBS Group Research, CEIC

CPI inflation, % YoY

20192020f2021f2022f
China2.92.32.52.5
Hong Kong2.90.32.02.5
India3.76.65.34.7
Indonesia2.82.01.52.2
Malaysia0.7-1.11.42.0
Philippines**2.52.44.03.0
Singapore0.6-0.21.71.5
South Korea0.40.51.71.0
Taiwan0.6-0.21.51.0
Thailand0.7-0.81.01.3
Vietnam2.83.23.33.6
Eurozone1.20.32.11.0
Japan0.50.00.00.5
United States***2.31.34.33.3
** new CPI series *** eop for CPI inflation
Source: DBS Group Research, CEIC

Exchange rates, end of period

3Q214Q211Q222Q223Q22
Mainland China*6.56.66.76.66.5
Hong Kong7.87.827.827.87.8
India75767776.576
Indonesia14,40014600148001470014600
Malaysia4.264.324.364.344.32
Philippines5151.55251.551
Singapore**1.371.381.391.381.37
South Korea1,1801,1901,2001,1801,160
Taiwan
Thailand33.834.735.53534.5
Vietnam***22,92022,87022,82022,77022,720
Eurozone1.161.151.141.151.16
Japan111113115114113
United States

Policy interest rates, end of period

3Q214Q211Q222Q223Q22
Mainland China*3.853.853.853.853.85
Hong Kong
India4.004.004.004.004.25
Indonesia3.503.503.503.503.50
Malaysia1.751.751.751.751.75
Philippines2.002.002.002.002.00
Singapore**0.120.120.120.120.12
South Korea0.750.751.001.001.00
Taiwan1.131.131.131.131.13
Thailand0.250.250.250.250.25
Vietnam***4.004.004.004.004.00
Eurozone0.000.000.000.000.00
Japan-0.10-0.10-0.10-0.10-0.10
United States0.250.250.250.250.25

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.

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Macro Insights

India’s Economies and Markets Around Elections

March 05, 2019

Global

Global / Credit

Credit: Relief in China credit amid reassurances

October 22, 2021
Global

Sentiment improves but risks remain

Global / FX

FX Daily: Taking it slow on Friday

October 22, 2021
Global

Moving from rally towards consolidation

Insights and Analysis

Global / Economics

DBS Group Research Webinar...

October 19, 2021

Opportunities amid rising yields and China risks

Key summary points
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