Asia Data Response Manufacturing PMIs (Nov.) PMIs for Emerging Asia (ex. China) were slightly more positive in November, suggesting that while industry remains weak it is starting to recover. The continued improvement in PMIs for China provides... 2nd December 2019 · 2 mins read
Asia Economics Update A slow recovery ahead GDP growth was either flat or picked up slightly in most parts of Emerging Asia last quarter, and we think regional growth will rise gradually over the coming year helped by a slow recovery in exports... 22nd November 2019 · 3 mins read
Asia Economics Update Philippines likely to cut again after today’s pause It was no surprise that the central bank in the Philippines (BSP) left its main policy rate at 4.00% today, and it is unlikely to adjust rates at its December meeting either. But with growth likely to... 14th November 2019 · 3 mins read
Asia Data Response Philippines GDP (Q3) The jump in growth in Q3 was mainly driven by temporary factors relating to the delayed 2019 budget. Once this distortion drops out, we expect growth to settle at around 6.0% as a tough external... 7th November 2019 · 3 mins read
Asia Data Response Manufacturing PMIs (Oct.) PMIs for Emerging Asia (ex. China) softened slightly last month and continue to suggest that industry remains weak. The PMIs for China gave mixed signals, but on balance provide some hope for a pickup... 1st November 2019 · 2 mins read
Asia Economics Update Philippines easing cycle has further to run Today’s cut to the policy rate by the central bank in the Philippines (BSP) from 4.25% to 4.00% is unlikely to be the last in the easing cycle. With growth likely to disappoint and price pressures set... 26th September 2019 · 3 mins read
Asia Data Response Korea Trade, Manufacturing PMIs (Aug.) Weak trade data for Korea and the weakness of regional manufacturing PMIs in August suggest that economic conditions failed to improve in the middle of this quarter. While we suspect that regional GDP... 2nd September 2019 · 3 mins read
Asia Economics Weekly Korea budget boost, inflation remains low in August The announcement yesterday of plans for a large fiscal boost in Korea’s draft 2020 budget has led us to revise up our Korea growth forecast for next year to 2.5%, from 2.0% previously. That said, we... 30th August 2019 · 7 mins read
Asia Chart Pack Political risk back on the agenda Despite the poor global outlook, GDP growth across Emerging Asia actually picked up slightly in the second quarter, and our forecast is for a further gradual recovery over the remainder of the year... 26th August 2019 · 16 mins read
Asia Economics Update Philippines: BSP cuts, one more likely this year Today’s 25bp cut from the central bank in the Philippines (BSP) came as no surprise, and with inflation set to fall back further and growth only likely to stage a moderate recovery over the coming... 8th August 2019 · 3 mins read
Asia Economics Weekly New currency forecasts, trade war escalates, rate cuts While we had been expecting an escalation in US-China trade tensions, China’s decision to allow the renminbi to weaken through 7.0/US$ in response to Trump’s latest tariffs means events are moving... 8th August 2019 · 5 mins read
Asia Data Response Philippines GDP (Q2) The continued weakness of growth means that the central bank will likely opt for a more aggressive 50bp policy rate cut this afternoon. And while growth should recover from here, don’t expect a strong... 8th August 2019 · 3 mins read
Asia Data Response Manufacturing PMIs (Jul.) PMI readings for Emerging Asia were slightly more positive at the start of Q3, but the big picture is that they remain low by past standards and there are few signs of a meaningful turnaround yet. 1st August 2019 · 2 mins read
Asia Data Response Philippines CPI (Jun.) The renewed drop in inflation in June is likely to continue as the headline rate is dragged down by falling food and fuel price inflation, providing a green light for the central bank to cut rates in... 5th July 2019 · 3 mins read
Asia Economics Update Philippines likely to resume easing cycle soon The central bank in the Philippines (BSP) kept its policy rate unchanged at 4.50% today, but it clearly left the door open to further easing. With inflation likely to fall back further over the coming... 20th June 2019 · 1 min read
Asia Economics Update What would US rate cuts mean for Asia? Expectations that the US will soon start to cut interest rates have provided a boost to Asian currencies in recent weeks. But if we are right that slowing growth in the US and the escalating trade war... 18th June 2019 · 1 min read
