Asia Is Expected to Keep Growing
Asian growth is expected to remain robust in 2006 at about seven per cent, the same as last year.
In Japan, the recovery is seen continuing as domestic demand strengthens due to robust corporate investment and a firming labour market, which is stimulating household incomes and consumption, the International Monetary Fund said in its Asia-Pacific Regional Economic Outlook.
Meanwhile, economies in emerging Asia are benefiting from a surge in external demand for the region's products, especially electronics.
Emerging Asia refers to China, India, Hong Kong, South Korea, Singapore, Taiwan, Indonesia, Malaysia, Philippines and Thailand.
At the same time, inflation remains subdued, with a projected average of three per cent this year. However, the situation varies across the region, with price pressure being stronger in Indonesia, Malaysia, the Philippines and Thailand, it said.
IMF sees industrial Asia, which refers to Japan, Australia and New Zealand, growing at 2.8 per cent this year and 2.2 per cent in 2007.
Emerging Asia is seen growing eight per cent this year and 7.7 per cent next year. China
is expected to grow at 9.5 per cent this year and nine per cent in 2007, while India is set for 7.3 per cent this year and seven per cent next year.
The newly industrialised economies of Hong Kong, Korea, Singapore and Taiwan should notch a 5.2 per cent improvement in 2006 and 4.5 per cent in 2007. The so - called ASEAN-4 nations of Indonesia, Malaysia, the Philippines and Thailand are forecast to grow 5. …