Southeast Asia is showing signs of moderate rebound after the globalfinancial crisis but will remain robust, the OECD said on Sept. 13.
Both leading and coincident indicators for economies in theAssociation of Southeast Asian Nations (ASEAN) show steady growth isbased on sound exports, strong domestic demand and improved businesssentiment, the Organisation for Economic Cooperation and Development(OECD) said in its latest quarterly business report.
The OECD, a Paris-based international economic organisation comprising33 of the world’s richest countries, based its forecast on data fromfive ASEAN nations, including Indonesia , Malaysia , the Philippines ,Singapore and Thailand .
However, leadingindicators suggest that growth in many ASEAN countries, while stillrobust, may be weakening in the next quarter, it said.
According to the report, signs of a slowdown in the Chinese economy, akey export market, constitute a negative factor for the outlook forASEAN economies, while uncertainty about growth prospects for OECDeconomies remain.
OECD's forecast is in line withprojections by officials and private sector economists that the pace ofthe region's economic rebound is likely to ease in the second half ofthe year, although full-year growth will remain strong.
While the OECD report did not contain projections for gross domesticproduct (GDP) growth in ASEAN this year, Singaporean officials have saidthey expect the island nation’s economy to surge by up to 15 percent.
Indonesia 's economy is expected to expand 6.0percent and Malaysia should exceed 6.0 percent GDP growth this year,according to official estimates.
ASEAN's other members are Brunei , Cambodia , Laos , Myanmar and Vietnam./.
Both leading and coincident indicators for economies in theAssociation of Southeast Asian Nations (ASEAN) show steady growth isbased on sound exports, strong domestic demand and improved businesssentiment, the Organisation for Economic Cooperation and Development(OECD) said in its latest quarterly business report.
The OECD, a Paris-based international economic organisation comprising33 of the world’s richest countries, based its forecast on data fromfive ASEAN nations, including Indonesia , Malaysia , the Philippines ,Singapore and Thailand .
However, leadingindicators suggest that growth in many ASEAN countries, while stillrobust, may be weakening in the next quarter, it said.
According to the report, signs of a slowdown in the Chinese economy, akey export market, constitute a negative factor for the outlook forASEAN economies, while uncertainty about growth prospects for OECDeconomies remain.
OECD's forecast is in line withprojections by officials and private sector economists that the pace ofthe region's economic rebound is likely to ease in the second half ofthe year, although full-year growth will remain strong.
While the OECD report did not contain projections for gross domesticproduct (GDP) growth in ASEAN this year, Singaporean officials have saidthey expect the island nation’s economy to surge by up to 15 percent.
Indonesia 's economy is expected to expand 6.0percent and Malaysia should exceed 6.0 percent GDP growth this year,according to official estimates.
ASEAN's other members are Brunei , Cambodia , Laos , Myanmar and Vietnam./.
