Asia-Pacific remains a multi-speed region, with China nursing a property downturn and developed economies are undergoing soft landings, with low
“Meanwhile, Asia’s emerging market economies are poised for robust expansions,” S&P Global Ratings said Monday in a report titled “Economic Outlook Asia-Pacific Q4 2023: Resilient Growth Amid China Slowdown.”
“Amid resilient domestic demand, the slowdown in 2023 should remain modest in most economies while easing inflation and external deficits have meant a reprieve for central banks,” Kuijs said. S&P Global Ratings cut its China growth forecast for 2023 to 4.8 percent from 5.2 percent and that for 2024 to 4.4 percent from 4.8 percent.
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