In the media | 24 Nov 2022

Alex Holmes: Parts of Asian economies have a way to go to recover

Alex Holmes

Alex Holmes

Lead Economist

Asia map

“Still, parts of Asian economies have a way to go to recover, particularly on the investment side, on the construction side. Labour flows within the region have only just started to get back to normal. So the sort of labour shortages that have been holding back construction and industry are now easing and there’s plenty of scope for that to ease more. But, there is an issue. Asia is facing lots of headwinds and those headwinds to growth are mounting and the recovery is entering a much more difficult phase.”

“The biggest one is the external environment. Now, Asia is a very exported-dependent region. And so if there is a shallow recession in the US, the Eurozone, and in the UK as we and many others expect early next year, that’s going to weigh on demand for the goods that are produced in Asia. But it’s not just this usual relationship between growth in the advanced world and exports from Asia. There are some added factors. That means that we think that exports are going to slow over and above that usual relationship.” Alex Holmes, Senior Economics at Oxford Economics, answered during the interview with Pamela Ambler from IC Markets.

Watch the full interview to learn more:

The interview is also available on Apple Podcasts and Spotify to listen.

To download our latest report on APAC’s 2023 outlook, please visit Unprecedented mix of challenges hurts APAC’s 2023 outlook


For media enquiries on Asia, please contact:
Yu Sato
[email protected]

You may be interested in

consumer spending

Post

Asia-Pacific: A modest 2024 for consumer spending in APAC cities
Find Out More
Philippines_Concerns-about-future-real-income-drag-on-consumption

Post

Philippines concerns about future real income drag on consumption

Private consumption growth in the Philippines has slowed to its lowest rate since 2010 outside the pandemic period. The main culprit is worsening confidence, which has been hit particularly hard by persistent inflation. Although inflation should subside later in the year, the impact on consumer sentiment will take time to feed through, so we don't expect a substantial boost in spending this year.

Find Out More