Reuters Poll Says Emerging Asia to Contract in 2015

October 24, 2014 Share Print 0

Emerging Asia will contribute less to the global economy in 2015 than was expected just months ago as a slowdown in China drags on growth in the region, partially offset by acceleration in the United States, Reuters polls showed.

Until recently the primary engine of global growth, most Asian economies have slowed, hamstrung by erratic exports, sluggish domestic demand, capital outflows and political and policy uncertainty.

At the same time, many of Asia’s major trading partners in the West are grappling with disinflation and weak demand, making it difficult for central banks there to move away from aggressive monetary stimulus.

Estimates for 2015 GDP growth were either cut or left unchanged for nine Asian countries in the latest poll of over 200 economists conducted over the past week, with Hong Kong, Indonesia and Singapore bearing the brunt of the downgrades.

India, Malaysia and Thailand were the few economies for which economists made slight upgrades to growth projections.

via Reuters

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.