Home / Knowledge / News / Textiles / ADB forecasts stable outlook for Southeast Asia
ADB forecasts stable outlook for Southeast Asia
10
Dec '15
The economic outlook for South Asia remains stable, according to the Asian Development Bank's Asian Development Outlook 2015 Update.

GDP growth across Southeast Asia is projected at 4.4 per cent in 2015 and 4.9 per cent in 2016, as envisaged in the Update. The growth forecast for Indonesia, the largest economy in the subregion, is trimmed slightly for 2015 and 2016 as budget disbursement has been below expectations, and as further delays in export recovery are likely. The growth forecasts for the Philippines and Singapore in 2015 are similarly trimmed to reflect lower-than-expected growth in the third quarter.

Meanwhile, the growth forecast for Myanmar in 2015 and 2016 has been revised up on expectations of higher investment and tourist arrivals.

Growth in Indonesia was stable at 4.7 per cent year on year in the third quarter, as in the second. Government spending improved significantly to grow by 6.6 per cent year on year, much higher than in the previous quarter. Expansion in fixed investment was supported in part by the start of several public projects, and household consumption remained robust. As expected, net exports continued their positive contribution to GDP growth, at 1.2 percentage points as in the first half of the year.

The rate of capital budget disbursement by the end of 2015 is projected to be slightly lower than the 80 –85 per cent assumed in the Update, curbing growth in the second half slightly more than previously expected. GDP growth in 2015 is now projected at 4.8 per cent, down from the 4.9 per cent projected in September. In 2016, growth is seen accelerating to 5.3 per cent, revised slightly down from the previous projection as export recovery is likely to be further delayed.

After growing at 5.3 per cent in the first half of 2015, the Malaysian economy expanded by 4.7 per cent in the third quarter, the slowest pace in more than 2 years. Decelerating domestic demand continued to drag down growth in the third quarter, as private consumption eased following the introduction in April of a 6 per cent tax on goods and services. Business sentiment has been hurt by lackluster prospects for exports, a sharp depreciation of the Malaysian ringgit, a slide in stock prices, and spare manufacturing capacity. On the other hand, the ringgit's depreciation supported export expansion and net exports growth at 3.3 per cent in the third quarter, reversing 10.5 per cent contraction in the second. Although the rest of the year will see private consumption buffeted by headwinds caused by sagging consumer confidence, the new tax on goods and services, slowing growth in credit to households, and signs of softening in the labor market, growth will find support in better prospects for exports. Growth forecasts are therefore maintained at 4.7 per cent for 2015 and 4.9 per cent for 2016.

 


Must ReadView All

Courtesy: Jens Mahnke from Pexels

Textiles | On 22nd Oct 2018

India levies anti-dumping duty on flax yarn from China

The ministry of finance, Government of India, has imposed definitive...

US polyester yarn makers allege dumping from China, India

Textiles | On 22nd Oct 2018

US polyester yarn makers allege dumping from China, India

Two major US synthetic yarn producers—Unifi Manufacturing, Inc...

Courtesy: Donear

Textiles | On 22nd Oct 2018

Aspiring middle class shaping menswear fabric trend

The key trends shaping menswear fabric include a new middle class and ...

Interviews View All

Dharmendra Shah, Ozone PB Spintex Limited

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Mark Tokuhara,

Mark Tokuhara

Japan-based FitJoy, a shoe brand for women, has been in the footwear...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Johan Berlin, Investkonsult Sweden AB

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search