The Asia-Pacific (Apac) region continues to lead global growth, with all economies tipped to rebound this year, according to a Moody’s Analytics report.
In addition, economies in the region, except the Philippines, Thailand and Malaysia, are expected to recover past their pre-pandemic levels by the end of this year.
Apac’s gross domestic product (GDP) had already edged above its pre-pandemic peak in the final quarter of last year. Pack leaders China, New Zealand, Taiwan and Vietnam are now expanding, with real GDPs having surpassed pre-pandemic (Q4 2019) levels. India’s GDP is also marginally above its pre-pandemic peak. Of the remaining economies, most are within two to three percentage points of achieving a new peak in GDP.
All Apac economies are anticipated to hit record growth this year. As at last Thursday, Moody’s Analytics forecasts India to record the strongest growth of…
