Asia-Pacific region continues to lead global growth – Moody’s
In its latest analytics report released on Tuesday, the US-based Moody’s Investors Service highlighted that the Asia-Pacific (APAC) region continues to drive global growth after the coronavirus pandemic-induced downturn.
Key takeaways
“All Asia-Pacific economies - except the Philippines, Thailand and Malaysia - are expected to recover past their pre-pandemic levels by end-2021.”
“All Asia-Pacific economies are anticipated to record growth in 2021. As of March 11, Moody's Analytics forecasts India to record the strongest growth of 12 percent, followed by China (8.3 percent) and Vietnam (7.5 percent).”
“In the second half of the year, the region is expected to be supported by increased immunity and less social distancing, together with the emergence of North America and Europe from Covid-19 restrictions, which will drive global spending. “
“A recovery in international trade, supportive fiscal policies, and measures to manage COVID-19 are other factors working in the Asia-Pacific region's favor.”
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