Tuesday, 7 December 2010

East Asia to slow

Emerging economies in East Asia will see robust growth this year but slow next year, according to the Asian Development Bank. AFP/CNA reports:

The Asian Development Bank (ADB) said Tuesday that East Asia's emerging economies will grow 8.8 per cent this year before slowing to 7.3 per cent in 2011 amid concerns about the global economy.

A slowdown is already very evident in East Asia's most developed economy, Japan. From Nikkei:

Japan's composite index of coincident economic indicators for October fell 1.4 points from the previous month to 100.7 (2005=100), according to data released Tuesday by the Cabinet Office.

The index of leading indicators, a barometer of economic conditions several months down the road, slid 1.4 points to 97.2.

The government downgraded its overall assessment of the economy to "stalled," compared with the previous month's assessment that it shows signs of improvement but is at a standstill.

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