Several major cities in Asia and the Pacific, including Manila, are likely to post a slower growth next year compared to this year as consumption weakens, according to think tank Oxford Economics.
In its City Economic Prospects Quarterly report, Oxford Economics said gross domestic product growth may slow in many major cities in the region next year.
Meanwhile, Oxford Economics expects growth in Indian cities to remain strong next year, with Hyderabad and Bengaluru GDP projected to rise by 9.3 percent and 8.9 percent, respectively in 2024, faster than the 3.3 percent average for Asia-Pacific’s 33 major cities. “Following a year of subdued global growth in 2023, we think a further softening of economic conditions is likely next year,” Oxford Economics said.
“The main drivers underpinning this slowdown are weaker outlooks for the US and China,” Oxford Economics said. While major cities are expected to see slower growth next year, it said these are likely to grow faster than their respective national economies, citing favorable structural factors such as advantageous mix of industries, highly skilled workforce and strong global connectivity.vivo school tour updates: V29 5G takes center stage at Jose Rizal University
Walang ibang nasa isip ang National University Bulldogs kundi ang sakmalin ang pang-apat na sunod na panalo laban sa Adamson University sa UAAP Season 86 men’s basketball tournament sa UST Quadricentennial...r
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