Virus resurgence hits Asia recovery : vimarsana.com

Virus resurgence hits Asia recovery

In its recent Regional Economic Outlook (REO), the IMF notes that the pandemic has taken a turn for the worse in Asia since the spring, along with the region's growth outlook. The growth projection for the Asia and Pacific region is downgraded by more than 1% to 6.5% compared to the April 2021 forecasts -- more than for any other region. The downgrade is mostly due to the fast spread of the Delta variant amid initially low vaccination rates, which has tragically led to further devastating loss of lives, especially in the densely populated South and Southeast Asia. Although demand for Asian manufacturing and exports from Europe and the US has supported recoveries, real GDP outcomes in the first half of 2021 have disappointed.

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China , Australia , New Zealand , Thailand , South Korea , Changyong Rhee , Asia Pacific , International Monetary Fund , Pacific Department , Federal Reserve , Regional Economic Outlook , ,

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