Soaring energy prices and a stalling US economy have emerged as potential downside risks that could dampen growth in Asean+3 economies, according to the Singapore-based Asean+3 Macroeconomic Research Office (Amro).
According to an Amro report published recently, China’s reopening would help support the region’s growth this year, but external demand is expected to be pressured by signs of economic slowdown in the US.
Concerns have been raised after recent economic data in the US indicated a weak labour market through private payrolls and job openings. For example, the US Labor Department revealed that initial jobless claims fell to a seasonally adjusted 228,000 for the week ended April 1 compared with expectations of 200,000 claims.
The report noted that the most immediate risk for Asean+3 countries is the possibility of another shock to global energy prices should…
