CONSUMPTION TRENDS AN ECONOMIC ANALYSIS OF ASIA S CHANGING TRADE. Brian Jackson, Senior Economist,

Size: px
Start display at page:

Download "CONSUMPTION TRENDS AN ECONOMIC ANALYSIS OF ASIA S CHANGING TRADE. Brian Jackson, Senior Economist,"

Transcription

1 CONSUMPTION TRENDS AN ECONOMIC ANALYSIS OF ASIA S CHANGING TRADE Brian Jackson, Senior Economist, brian.jackson@ihsmarkit.com 1 IHS Markit. All Rights Reserved.

2 Asia overview 1 IHS Markit. All Rights Reserved.

3 Percent USD 3 High wage levels in China create competitive opportunities for regional neighbors manufacturing sectors Wage growth, manufacturing China India Indonesia Vietnam Wage levels, manufacturing, hourly China India Indonesia Vietnam IHS IHS 1 IHS Markit. All Rights Reserved.

4 Percent USD trillions (1) Despite faster growth, India s industrial sector will remain smaller than ASEAN s and well behind China s Real industrial sector growth Real industrial sector levels 1 1 ASEAN China India Indonesia Vietnam IHS IHS 1 IHS Markit. All Rights Reserved.

5 Percent USD trillions (1) 5 Vietnam will lead trade growth, ASEAN s incremental gain will nearly rival China s in the coming two decades Real total trade growth Real total trade levels 1 1 ASEAN China India Indonesia Vietnam IHS IHS 1 IHS Markit. All Rights Reserved.

6 Percent USD trillions (1) India will top consumption growth rates over the next years, but remain a distant second to China in levels Real consumption growth Real consumption levels 1 1 ASEAN China India Indonesia Vietnam IHS IHS 1 IHS Markit. All Rights Reserved.

7 7 China deep dive The impact of economic restructuring on consumption and trade 1 IHS Markit. All Rights Reserved.

8 What is restructuring? GDP concepts > Distribution of supply agriculture, industry and construction, services > Distribution of income profits, taxes and wages > Distribution of expenditure consumption, investment and net exports Other restructuring > Debt intensity of growth > Ownership of productive assets > Urbanization and demographics 1 IHS Markit. All Rights Reserved.

9 9 Starting in 11, China s service sector gains increasingly fueled by industrial sector losses China nominal GDP composition, percent share China real GDP growth, percent Primary Secondary Tertiary 1 IHS Tertiary Secondary Primary Tertiary share of growth (RHS) 1 IHS 1 IHS Markit. All Rights Reserved.

10 Percentage point contributions 1 Every industrial sector in China impacted by the secular slowdown Contributions to Chinese GDP growth Construction Utilities Light manufacturing Heavy manufacturing Mining 1 IHS 1 IHS Markit. All Rights Reserved.

11 Percent change year ago Million square meters, 1MMA 11 China real estate growth impressive mostly due to cyclical rebound, levels remain low by historic standards Residential floor space indicators China's residential floor space activity, levels Completions Under construction Starts Sold Source: NBS 1 IHS Completed Sold Started 1 IHS 1 IHS Markit. All Rights Reserved.

12 Percentage point contributions 1 China s service sector relatively stable, but increasingly dominated by other services Contributions to Chinese GDP growth Other services Real estate Finance Accommodation, catering Wholesale, retail Transport, storage, post 1 IHS 1 IHS Markit. All Rights Reserved.

13 Percent share 13 Chinese service sector composition and size shows ample room for growth in other services Service sector share of GDP, China US Other services Real estate Finance Accommodation, catering Wholesale, retail Transport, storage, postal 1 IHS Service sector share of GDP, 15 Public management Culture, sports and recreation Health care, social security Education Resident services Utilities management R&D Leasing and commercial IT 1 3 Percent share Non-public Public 1 IHS 1 IHS Markit. All Rights Reserved.

14 Percentage point contribution Share Percentage point contribution Share 1 Investment in underperforming traditional sectors slowed markedly since 11 China fixed-asset investment growth 5 9 China fixed-asset investment growth Construction Utilities Light manufacturing Heavy manufacturing Mining Secondary sector share of FAI growth 1 IHS Other services Real estate Finance Accommodation, catering Wholesale, retail Transport, storage, post Tertiary sector share of FAI growth 1 IHS 1 IHS Markit. All Rights Reserved.

15 15 Services growth largely fueled by domestic consumption and capital formation expenditure China sector output by expenditure Agriculture Mining Heavy manufacturing Light manufacturing Utilities Construction Transport, storage, postal Wholesale, retail Accommodation, catering Finance Real estate Other services Share of GDP Consumption Capital formation Exports Imports 1 IHS 1 IHS Markit. All Rights Reserved.

16 1 Industry accounts for over 3% of China trade; its lower growth path is equivalent to a weaker trade outlook China expenditure by sector Consumption Capital formation Exports Imports Share of GDP Agriculture Industry Construction Services 1 IHS 1 IHS Markit. All Rights Reserved.

17 17 Chinese growth increasingly dominated by consumeroriented services, especially from onward Contributions to China's real GDP growth Services Non-manufacturing industry Manufacturing Agriculture 1 IHS 1 IHS Markit. All Rights Reserved.

Nauru. Key Indicators for Asia and the Pacific Item

Nauru. Key Indicators for Asia and the Pacific Item Key Indicators for Asia and the Pacific 2018 1 POPULATION Total population a as of 1 July ( 000) 10.1 10.1 10.1 9.9 9.7 9.5 9.1 9.2 9.4 9.5 9.7 10.1 10.3 10.8 11.9 12.5 13.0 13.3 Population density (persons/km

More information

Indonesia Economic Quarterly, July 2014 Hard choices. Ndiamé Diop Lead Economist

Indonesia Economic Quarterly, July 2014 Hard choices. Ndiamé Diop Lead Economist Indonesia Economic Quarterly, July 214 Hard choices Ndiamé Diop Lead Economist The new administration will face major near-term challenges Fiscal pressures Economic growth Poverty and inequality reduction

More information

The Israeli economy: Trends and Outlook. 4th quarter of 2017

The Israeli economy: Trends and Outlook. 4th quarter of 2017 The Israeli economy: Trends and Outlook 4th quarter of 2017 Outline Factsheet Recent economic trends Fiscal indicators Economic Outlook Israel Factsheet Sources: Israeli CBS, BoI Economy Population Labor

More information

Stable economy sets the stage for reforms in 2018

Stable economy sets the stage for reforms in 2018 Stable economy sets the stage for reforms in 28 While China s economic restructuring is in progress with government-led consolidation on excess capacity and measures to cool the housing market, export

More information

an eye on east asia and pacific

an eye on east asia and pacific 67887 East Asia and Pacific Economic Management and Poverty Reduction an eye on east asia and pacific 7 by Ardo Hansson and Louis Kuijs The Role of China for Regional Prosperity China s global and regional

More information

Asia/Pacific Economic Overview

Asia/Pacific Economic Overview Copyright E. I. du Pont de Nemours and Company. All rights reserved. Distribution, reproduction or copying of this copyrighted work without express written permission of DuPont is prohibited. Asia/Pacific

More information

Korean Economic Trend and Economic Partnership between Korea and China

Korean Economic Trend and Economic Partnership between Korea and China March 16, 2012 Korean Economic Trend and Economic Partnership between Korea and China Byung-Jun Song President, KIET Good evening ladies and gentlemen. It is a great honor to be a part of this interesting

More information

Malaysia Economic Monitor The Quest for Productivity Growth

Malaysia Economic Monitor The Quest for Productivity Growth Malaysia Economic Monitor The Quest for Productivity Growth 1 Contents RECENT ECONOMIC DEVELOPMENTS AND OUTLOOK External environment Domestic economic developments Outlook THE QUEST FOR PRODUCTIVITY GROWTH

More information

INDONESIA ECONOMIC QUARTERLY MARCH 2013

INDONESIA ECONOMIC QUARTERLY MARCH 2013 INDONESIA ECONOMIC QUARTERLY MARCH 213 PRESSURES MOUNTING Jim Brumby, PREM Sector Manager & Lead Economist Paramadina Public Policy Institute, March 213 www.worldbank.org/id MARCH 213 IEQ LAUNCH PRESENTATION

More information

Global PMI. Global economy buoyed by rising US strength. June 12 th IHS Markit. All Rights Reserved.

Global PMI. Global economy buoyed by rising US strength. June 12 th IHS Markit. All Rights Reserved. Global PMI Global economy buoyed by rising US strength June 12 th 2018 2 Global PMI rises but also brings signs of slower future growth At 54.0 in May, the headline JPMorgan Global Composite PMI, compiled

More information

Near-term growth: moderating, but no imminent hard landing. Vulnerabilities are growing along the current growth path

Near-term growth: moderating, but no imminent hard landing. Vulnerabilities are growing along the current growth path 1 Near-term growth: moderating, but no imminent hard landing Vulnerabilities are growing along the current growth path financial and structural reform must be accelerated to contain risks and transition

More information

Market Bulletin. China: Still sneezing hard. January 20, 2016 MARKET INSIGHTS. In brief

Market Bulletin. China: Still sneezing hard. January 20, 2016 MARKET INSIGHTS. In brief MARKET INSIGHTS Market Bulletin January 20, 2016 China: Still sneezing hard In brief Slower 4Q15 GDP growth and soft December data add to concerns about China s economic health. On a more encouraging note,

More information

Getting India Back to the Turnpike: What will it Take?

Getting India Back to the Turnpike: What will it Take? Getting India Back to the Turnpike: What will it Take? Rakesh Mohan Senior Fellow Jackson Institute for Global Affairs Yale University And Distinguished Fellow Brookings India George Washington University

More information

China Economic Update Q April 27, 2018

China Economic Update Q April 27, 2018 il 27, 2018 Key Developments in Brief Economic Development Drivers of Growth Risks Predicted GDP growth of 6.5% in Service and modern production Corporate debt, esp. stateowned 2018 grow fast enterprises

More information

Asian Development Outlook 2016: Asia s Potential Growth

Asian Development Outlook 2016: Asia s Potential Growth Asian Development Outlook 2016: Asia s Potential Growth Juzhong Zhuang Deputy Chief Economist Asian Development Bank Presentation at The views expressed in this document are those of the author and do

More information

Summary. Editor: Tristan Zhuo Senior Economist Phone:

Summary. Editor: Tristan Zhuo Senior Economist Phone: Summary Editor: Tristan Zhuo Senior Economist Phone: +852 2826 6193 Email: tristanzhuo@bochk.com China s macro economy stabilized in May, and growth in the second quarter appears to be similar with the

More information

Ontario Economic Accounts

Ontario Economic Accounts SECOND QUARTER OF 2017 April, May, June Ontario Economic Accounts ONTARIO MINISTRY OF FINANCE Table of Contents ECONOMIC ACCOUNTS Highlights 1 Ontario s Economy Continues to Grow Expenditure Details 2

More information

Indonesia Economic Quarterly: October 2012 Maintaining resilience

Indonesia Economic Quarterly: October 2012 Maintaining resilience Indonesia Economic Quarterly: October 1 Maintaining resilience Ndiame Diop Lead Economist & Economic Advisor, Indonesia World Bank October 15, 1 Paramadina Public Policy Institute www.worldbank.org/id

More information

Summary. Chinese equities remained mired in a bear market, with the Shanghai composite losing nearly

Summary. Chinese equities remained mired in a bear market, with the Shanghai composite losing nearly Summary Editor: Tristan Zhuo Senior Economist Phone: +852 2826 6193 Email: tristanzhuo@bochk.com In spite of fixed asset investment, industrial production, and exports all missing their targets, China

More information

Malaysia. Key Indicators for Asia and the Pacific Item

Malaysia. Key Indicators for Asia and the Pacific Item Key Indicators for Asia and the Pacific 2017 1 POPULATION Total population million; as of 1 July 23.49 24.03 24.54 25.04 25.54 26.05 26.55 27.06 27.57 28.08 28.59 29.06 29.51 29.92 30.60 31.20 31.66 Population

More information

STATISTICAL REFLECTIONS 3 September 2014

STATISTICAL REFLECTIONS 3 September 2014 66/14 STATISTICAL REFLECTIONS 3 September 14 Second-quarter 14 GDP increased by 3.9 Gross domestic product, second quarter 14, second estimation Contents Introduction...1 Production...1 Expenditure...

More information

China, People s Republic of

China, People s Republic of 1 POPULATION Total population as of 31 December (million) 1,267.4 1,276.3 1,284.5 1,292.3 1,299.9 1,307.6 1,314.5 1,321.3 1,328.0 1,334.5 1,340.9 1,347.4 1,354.0 1,360.7 1,367.8 1,374.6 1,382.7 1,390.1

More information

China Economic Update Q1 2015

China Economic Update Q1 2015 Key Developments in Brief Economic development Growth drivers Risks GDP growth slows to 7. Slowdown challenging, but manageable More easing policies expected Reforms progressing slowly Services and retail

More information

B-GUIDE: Economic Outlook

B-GUIDE: Economic Outlook Aug-12 Apr-13 Dec-13 Aug-14 Apr-15 Dec-15 Aug-16 Apr-17 Jul-15 Nov-15 Mar-16 Jul-16 Nov-16 Mar-17 Jul-17 Quarterly Economic Outlook: Quarter 4 2017 4 January 2018 B-GUIDE: Economic Outlook The economy

More information

Indonesia Economic Outlook and Policy Challenges

Indonesia Economic Outlook and Policy Challenges Indonesia Economic Outlook and Policy Challenges Daniel A. Citrin Asia and Pacific Department, IMF April 3, 28 Global Financial Stability Map: risks have risen; conditions have deteriorated October 27

More information

OECD SHORT-TERM ECONOMIC STATISTICS WORKING PARTY (STESWP) Evolution of short-term economic statistics in large emerging non-member economies (NMEs)

OECD SHORT-TERM ECONOMIC STATISTICS WORKING PARTY (STESWP) Evolution of short-term economic statistics in large emerging non-member economies (NMEs) OECD SHORT-TERM ECONOMIC STATISTICS WORKING PARTY (STESWP) Evolution of short-term economic statistics in large emerging non-member economies (NMEs) Paper prepared by David Brackfield and Alena Brin Statistics

More information

Special Feature Service Sector

Special Feature Service Sector Special Feature Service Sector D iscussions of economic performance tend to focus primarily on the goods sector. This is because output of the goods sector is tangible and more easily measured. Despite

More information

In search of fluctuations - Another look at China's incredibly stable real GDP growth

In search of fluctuations - Another look at China's incredibly stable real GDP growth Eeva Kerola Bank of Finland In search of fluctuations - Another look at China's incredibly stable real GDP growth Conference on China s Economic Reforms: Where Do We Stand December 3-4, 2018 City University

More information

Sinology KEY QUESTIONS FOR CHINA INVESTORS IN 2015 PART II. by Andy Rothman. Why Do I Keep Saying China Won t Ease this Year?

Sinology KEY QUESTIONS FOR CHINA INVESTORS IN 2015 PART II. by Andy Rothman. Why Do I Keep Saying China Won t Ease this Year? Sinology by Andy Rothman February 19, 2015 a In the second of a threepart series, Sinology answers some of the key questions investors should be asking about China in 2015. a We are witnessing the odd

More information

Tuvalu. Key Indicators for Asia and the Pacific Item

Tuvalu. Key Indicators for Asia and the Pacific Item Key Indicators for Asia and the Pacific 2016 1 POPULATION Total population a thousand; as of 1 July 9.5 9.6 9.6 9.7 10.0 10.3 10.4 11.1 11.0 11.1 11.1 10.6 10.8 10.8 10.8 10.8 Population density persons

More information

Analysis of the Asia-Pacific paint and coatings market

Analysis of the Asia-Pacific paint and coatings market Seite/Page: 1 Analysis of the Asia-Pacific paint and coatings market No doubt, the world economic growth was greatly impacted by the key happenings in 2008 and 2009. In 2009, we saw North America and Europe

More information

February market performance. Index. Index. Global economies

February market performance. Index. Index. Global economies March 2016 Global equity markets continued to correct through February but stage an early March recovery Oil prices staged a strong recovery from mid-february up 37% China economic data continued to consolidate

More information

Indonesia Economic Quarterly: December 2012 Policies in focus

Indonesia Economic Quarterly: December 2012 Policies in focus Indonesia Economic Quarterly: December 212 Policies in focus Ndiame Diop Lead Economist & Economic Advisor, Indonesia World Bank December 18, 212 World Bank and The Habibie Center Joint Launch Event Intercontinental

More information

Solomon Islands. Key Indicators for Asia and the Pacific 2018

Solomon Islands. Key Indicators for Asia and the Pacific 2018 1 POPULATION Total population a ( 000) 418.6 428.5 438.5 448.8 459.4 470.1 481.2 492.5 504.0 515.9 528.0 540.4 553.1 566.0 579.3 592.9 606.8 620.8 Population density (persons/km 2 ) 14 14 14 15 15 15 16

More information

China s Economy: Development Trends

China s Economy: Development Trends China s Economy: Development Trends BRUSSELS INSTITUTE OF CONTEMPORARY CHINA STUDIES Duncan Freeman March 215 dfreeman@vub.ac.be CHINA S NEW NORMAL PRC GDP Growth 1978-214 (%) 16. 14. 12. 1. 8. 6. 4. 2..

More information

The euro area economy: an update Euro Challenge November 2016

The euro area economy: an update Euro Challenge November 2016 The euro area economy: an update Euro Challenge November 2016 Delegation of the European Union to the United States www.euro-challenge.org What this presentation will cover A. Update on the economic situation

More information

World Industry Outlook: Which Industries Gain and Which Lose in a Slowing Global Economy? Mark Killion, CFA Managing Director World Industry Service

World Industry Outlook: Which Industries Gain and Which Lose in a Slowing Global Economy? Mark Killion, CFA Managing Director World Industry Service World Industry Outlook: Which Industries Gain and Which Lose in a Slowing Global Economy? Mark Killion, CFA Managing Director World Industry Service Agenda Outlook for Industry Sales and CapEx Ranking

More information

The International Business Academy in Conjunction with. International Journal of Business & Management Research. IJBMR ISSN

The International Business Academy in Conjunction with. International Journal of Business & Management Research. IJBMR ISSN The International Business Academy in Conjunction with International Journal of Business & Management Research. IJBMR ISSN 1938 0429 And The American International Institute USA Invites you to the 3rd

More information

Air travel markets over the next two decades

Air travel markets over the next two decades Air travel markets over the next two decades October 2016 Brian Pearce Chief Economist, IATA We ve enjoyed a long period of above-trend air travel growth 30% Growth in worldwide RPKs 25% 20% 15% 7 years

More information

Doing Business in China. Tuesday, May 3, :00 PM - 5:15 PM

Doing Business in China. Tuesday, May 3, :00 PM - 5:15 PM Doing Business in China Tuesday, May 3, 2011 4:00 PM - 5:15 PM The world s second-largest economy China at a glance, 2010 GDP Nominal PPP Growth rate Per capita US$5.745 US$9.872 Value 10.3% US$7,400 trillion

More information

The FDI-driven export growth story continues to power ahead despite the US withdrawal from TPP

The FDI-driven export growth story continues to power ahead despite the US withdrawal from TPP Vietnam s economy grew 6.2% yoy in 2016, versus 6.7% in 2015, weighed down by a slowdown in the agriculture and mining sectors. There was a further moderation to 5.1% growth in 1Q17. Nonetheless, on the

More information

Tuvalu. Key Indicators for Asia and the Pacific Item

Tuvalu. Key Indicators for Asia and the Pacific Item 1 POPULATION Total population thousand; as of 1 July 9.5 9.6 9.6 9.7 10.0 10.3 10.4 11.1 11.0 11.1 11.1 10.6 10.8 10.9 11.0 11.2 11.3 Population density persons per square kilometer 372 374 373 378 389

More information

Asia and the Pacific: Economic Outlook and Drivers

Asia and the Pacific: Economic Outlook and Drivers 2018/FDM1/004 Session 2.1 Asia and the Pacific: Economic Outlook and Drivers Purpose: Information Submitted by: International Monetary Fund Finance and Central Bank Deputies Meeting Port Moresby, Papua

More information

GROSS DOMESTIC PRODUCT, THIRD QUARTER OF 2018 (PRELIMINARY DATA)

GROSS DOMESTIC PRODUCT, THIRD QUARTER OF 2018 (PRELIMINARY DATA) GROSS DOMESTIC PRODUCT, THIRD QUARTER OF 2018 (PRELIMINARY DATA) In the third quarter of 2018 Gross Domestic Product (GDP) 1 at current prices amounts to 29 822 million BGN. In Euro terms GDP is 15 248

More information

The Chinese Gold Market Past, Present & Future

The Chinese Gold Market Past, Present & Future The Chinese Gold Market Past, Present & Future Shanghai 26 May 2011 Agenda The PAST (1984-2010) The PRESENT (2011) The FUTURE (2012+) Unlocking the market potential Maintaining momentum Reaching new heights

More information

Korea, Republic of. Key Indicators for Asia and the Pacific Item

Korea, Republic of. Key Indicators for Asia and the Pacific Item Key Indicators for Asia and the Pacific 2016 1 POPULATION Total population million; as of 1 July 47.0 47.4 47.6 47.9 48.0 48.1 48.4 48.6 48.9 49.2 49.4 49.8 50.0 50.2 50.4 50.6 Population density persons

More information

CHINA S ECONOMY AT A GLANCE

CHINA S ECONOMY AT A GLANCE CHINA S ECONOMY AT A GLANCE APRIL 218 CONTENTS Key points 2 Gross Domestic Product 3 Industrial Production 4 Investment 5 International trade - trade balance and imports International trade - exports 6

More information

Global PMI. Global economy set for robust Q2 growth. June 8 th IHS Markit. All Rights Reserved.

Global PMI. Global economy set for robust Q2 growth. June 8 th IHS Markit. All Rights Reserved. Global PMI Global economy set for robust Q2 growth June 8 th 2017 2 PMI indicates robust global growth in Q2 The global economy is on course for a robust second quarter, according to PMI survey data. The

More information

How Successful is China s Economic Rebalancing?*

How Successful is China s Economic Rebalancing?* How Successful is China s Economic Rebalancing?* C.P. Chandrasekhar and Jayati Ghosh Over the past decade, there has been much talk of global imbalances, and of the need to correct them in an orderly way.

More information

McVEAN Trading & Investments, LLC

McVEAN Trading & Investments, LLC McVEAN Trading & Investments, LLC CHINA S ROLE IN A GLOBAL ECONOMY November 16, 2016 ATLANTA, GEORGIA Michael Drury Chief Economist McVean Trading and Investments, LLC 0 2015 GLOBAL GDP $73.5 TRILLION

More information

2017 Mid-Year Commercial Real Estate Outlook for Asia Pacific

2017 Mid-Year Commercial Real Estate Outlook for Asia Pacific 2017 Mid-Year Commercial Real Estate Outlook for Asia Pacific REAL ASSETS REAL ESTATE INVESTING TEAM INVESTMENT INSIGHT 2017 The global macroeconomic landscape continues its shift away from highly accommodative

More information

4. Economic Outlook. ASSUMPTIONS AND SCENARIOS Condition of the International Economy World economic growth is predicted. to remain strong in 2007,

4. Economic Outlook. ASSUMPTIONS AND SCENARIOS Condition of the International Economy World economic growth is predicted. to remain strong in 2007, Monetary Policy Report - Quarter II-2007 4. Economic Outlook Overall, the accelerated pace of economic growth of 2007-2008 is predicted to carry forward, being accompanied by sustained macroeconomic stability.

More information

China: Beyond the headlines. Bill Maldonado HSBC Global Asset Management

China: Beyond the headlines. Bill Maldonado HSBC Global Asset Management China: Beyond the headlines Bill Maldonado HSBC Global Asset Management Are you a China Bull or a Bear? Source: Various news publications 2 Bear myth #1: Hard landing? GDP: Growth is slowing, but it s

More information

Global Economic Outlook John Hawksworth Chief Economist, PwC September 2012

Global Economic Outlook John Hawksworth Chief Economist, PwC September 2012 www.pwc.co.uk/economics Global Economic Outlook John Hawksworth Chief Economist, September 2012 Agenda Global overview Short term prospects for Europe, US and BRICs Long term trends: demographics, growth

More information

Emerging Markets Debt: Outlook for the Asset Class

Emerging Markets Debt: Outlook for the Asset Class Emerging Markets Debt: Outlook for the Asset Class By Steffen Reichold Emerging Markets Economist May 2, 211 Emerging market debt has been one of the best performing asset classes in recent years due to

More information

Gavekal June Investor Call

Gavekal June Investor Call June 2015 Gavekal June Investor Call By Louis-Vincent Gave Emerging market is outperforming, even adjusting for US$ strength 2 Behind the outperformance of EM, and especially Asian, bonds Higher yields

More information

GROSS DOMESTIC PRODUCT, SECOND QUARTER OF 2017 (PRELIMINARY DATA)

GROSS DOMESTIC PRODUCT, SECOND QUARTER OF 2017 (PRELIMINARY DATA) GROSS DOMESTIC PRODUCT, SECOND QUARTER OF 2017 (PRELIMINARY DATA) In the second quarter of 2017 Gross Domestic Product (GDP) 1 at current prices amounts to 24 149 million BGN. In Euro terms GDP is 12 347

More information

The Big Picture. Long-Term Trends in Global Infrastructure Investment and Commodity Prices. Warren Hogan. Chief Economist.

The Big Picture. Long-Term Trends in Global Infrastructure Investment and Commodity Prices. Warren Hogan. Chief Economist. The Big Picture Long-Term Trends in Global Infrastructure Investment and Commodity Prices Warren Hogan Chief Economist May 212 Outline Global Infrastructure Spending Trends Catching up for the industrialised

More information

Nova Scotia Labour Market Review

Nova Scotia Labour Market Review 2005 Nova Scotia Labour Market Review 2005 Nova Scotia Labour Market Review b This publication is available online at labourmarketinfo.ednet.ns.ca. This material may be freely copied for educational purposes.

More information

The Q Composite Business Optimism Index

The Q Composite Business Optimism Index Businesses expect economic recovery to remain slow Outlook for Q3 2014 - Key Highlights The Composite Business Optimism Index is29.13%, down13.78% from the previousquarter (42.91%) anddecreased by 1.02%

More information

THE MATURITY OF EMERGING ECONOMIES AND NEW DEVELOPMENTS IN THE GLOBAL ECONOMY

THE MATURITY OF EMERGING ECONOMIES AND NEW DEVELOPMENTS IN THE GLOBAL ECONOMY 1 THE MATURITY OF EMERGING ECONOMIES AND NEW DEVELOPMENTS IN THE GLOBAL ECONOMY THE MATURITY OF EMERGING ECONOMIES AND NEW DEVELOPMENTS IN THMY Tomohiro Omura Industrial Research Dept. II Mitsui Global

More information

China Economic Outlook 2018 Feb 13, 2018

China Economic Outlook 2018 Feb 13, 2018 Feb 13, Key Developments in Brief Economic Development Drivers of Growth Risks Predicted GDP growth of 6.5% in In 2017 growth exceeded the official target Service and modern production grow faster than

More information

Economic ProjEctions for

Economic ProjEctions for Economic Projections for 2016-2018 ECONOMIC PROJECTIONS FOR 2016-2018 Outlook for the Maltese economy 1 Economic growth is expected to ease Following three years of strong expansion, the Bank s latest

More information

GROSS DOMESTIC PRODUCT, FIRST QUARTER OF 2017 (PRELIMINARY DATA)

GROSS DOMESTIC PRODUCT, FIRST QUARTER OF 2017 (PRELIMINARY DATA) GROSS DOMESTIC PRODUCT, FIRST QUARTER OF 2017 (PRELIMINARY DATA) In the first quarter of 2017 GDP at current prices amounts to 20 066 million BGN. In Euro terms GDP is 10 260 million Euro or 1 445 euro

More information

Karnit Flug: Macroeconomic policy and the performance of the Israeli economy

Karnit Flug: Macroeconomic policy and the performance of the Israeli economy Karnit Flug: Macroeconomic policy and the performance of the Israeli economy Remarks by Dr Karnit Flug, Governor of the Bank of Israel, to the conference of the Israel Economic Association, Tel Aviv, 18

More information

CHINA S DIRECTION IN What is the Risk of a Debt Crisis?

CHINA S DIRECTION IN What is the Risk of a Debt Crisis? Sinology by Andy Rothman January 18, 2018 a In 2018, I expect China s economy to return to the long-term trend of gradual deceleration, while remaining one of the world s fastestgrowing economies. a China

More information

Understanding the Global ASEAN Consumer

Understanding the Global ASEAN Consumer Understanding the Global ASEAN Consumer The Philippines Millennials Roberto B. Tan Treasurer of the Philippines February 2015 ASEAN Offers a Future of Prosperity and Stability Combined GDP of nearly USD3tr

More information

THE CHINESE ECONOMY AT CROSS ROADS

THE CHINESE ECONOMY AT CROSS ROADS THE CHINESE ECONOMY AT CROSS ROADS ROBERTO CASTELLO BRANCO August 14, 2017 1 CHINA S ECONOMIC DEVELOPMENT EXPERIENCE: A UNIQUE PHENOMENON REAL GDP PER CAPITA HAS INCREASED 20-FOLD FROM 1980 TO 2016 MORE

More information

Myanmar. Key Indicators for Asia and the Pacific Item

Myanmar. Key Indicators for Asia and the Pacific Item Key Indicators for Asia and the Pacific 2017 1 POPULATION a Total population million; as of 1 October 46.1 46.6 47.1 47.6 48.1 48.5 48.8 49.2 49.5 49.8 50.2 50.6 51.0 51.4 52.0 52.5 52.9 Population density

More information

Chart 1 Development of real GDP by quarters (year-on-year growth in %)

Chart 1 Development of real GDP by quarters (year-on-year growth in %) A T E C 1 14 12 1 8 4 2-2 -4 I -9-12 -15 8/29B volume 17, Development of the real economy in the first quarter of 29 Viera Kollárová, Helena Solčánska Národná banka Slovenska The indicators of Slovakia

More information

Economic Analysis of Ontario

Economic Analysis of Ontario Economics / October 2018 Economic Analysis of Ontario Volume 9 Issue 5 ISSN: 0834-3980 Volume 37 Issue 2 May 2017 ISSN: 0834-3980 Ontario Economic Forecast Update 2018-2020 Highlights: Economic growth

More information

GROSS DOMESTIC PRODUCT, FIRST QUARTER OF 2018 (PRELIMINARY DATA)

GROSS DOMESTIC PRODUCT, FIRST QUARTER OF 2018 (PRELIMINARY DATA) GROSS DOMESTIC PRODUCT, FIRST QUARTER OF 2018 (PRELIMINARY DATA) In the first quarter of 2018 Gross Domestic Product (GDP) 1 at current prices amounts to 21 479 million BGN. In Euro terms GDP is 10 982

More information

GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER OF 2014 (PRELIMINARY DATA)

GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER OF 2014 (PRELIMINARY DATA) GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER OF 2014 (PRELIMINARY DATA) In the first quarter of 2014 GDP at current prices amounts to 16 097 Million Levs. In Euro terms GDP is 8 230 Million Euro or 1 136

More information

Viet Nam. Key Indicators for Asia and the Pacific Item

Viet Nam. Key Indicators for Asia and the Pacific Item Key Indicators for Asia and the Pacific 2018 1 POPULATION Total population as of 1 July (million) 77.11 78.12 79.08 80.00 80.95 81.91 82.85 84.22 85.12 86.03 86.93 87.84 88.81 89.76 90.73 91.71 92.69 93.67*

More information

China s Growth Miracle: Past, Present, and Future

China s Growth Miracle: Past, Present, and Future China s Growth Miracle: Past, Present, and Future Li Yang 1 Over the past 35 years, China has achieved extraordinary economic performance thanks to the market-oriented reforms and opening-up. By the end

More information

Trade and Economic Trends Evolving Patterns and Attitudes

Trade and Economic Trends Evolving Patterns and Attitudes Trade and Economic Trends Evolving Patterns and Attitudes Paul Bingham AAPA Marine Terminal Management Training Program Long Beach California October 1, 2018 World Economic Growth Increasing Emerging Markets

More information

Global PMI. Global economy suffers loss of momentum in March. April 10 th IHS Markit. All Rights Reserved.

Global PMI. Global economy suffers loss of momentum in March. April 10 th IHS Markit. All Rights Reserved. Global PMI Global economy suffers loss of momentum in March April 10 th 2018 2 Global economy suffers marked loss of growth momentum Global economic growth slowed sharply to the weakest for over a year

More information

Economic Outlook

Economic Outlook 2013-2014 Economic Outlook Published by: Department of Finance Province of New Brunswick P.O. Box 6000 Fredericton, New Brunswick E3B 5H1 Canada Internet: www.gnb.ca/0024/index-e.asp March 26, 2013 Cover:

More information

GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER OF 2012

GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER OF 2012 GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER OF 2012 In the third quarter of 2012 GDP at current prices amounted to 21 734 Million Levs. In Euro terms GDP was 11 112 Million Euro or 1 522 Euro per person.

More information

Key developments and outlook

Key developments and outlook 1/17 Key developments and outlook Economic growths in 2016 and 2017 remain close to the previous assessment. Better-than-expected merchandise exports and private consumption compensate for weaker-than-expected

More information

Economic growth. The economy s need for workers originates in

Economic growth. The economy s need for workers originates in Economic growth 40 The economy s need for workers originates in the demand for the goods and services that they provide. So, in order to project employment, BLS starts by estimating the production of final

More information

Asian Insights What to watch closely in Asia in 2016

Asian Insights What to watch closely in Asia in 2016 Asian Insights What to watch closely in Asia in 2016 Q1 2016 The past year turned out to be a year where one of the oldest investment adages came true: Sell in May and go away, don t come back until St.

More information

PMITM. The world s leading economic indicator

PMITM. The world s leading economic indicator PMITM The world s leading economic indicator The Purchasing Managers IndexTM (PMITM) is based on monthly surveys of carefully selected companies representing major and developing economies worldwide. KEY

More information

Hong Kong, China. Key Indicators for Asia and the Pacific 2018

Hong Kong, China. Key Indicators for Asia and the Pacific 2018 Key Indicators for Asia and the Pacific 2018 1 POPULATION a Total population as of 1 July (million) 6.7 6.7 6.7 6.7 6.8 6.8 6.9 6.9 7.0 7.0 7.0 7.1 7.2 7.2 7.2 7.3 7.3 7.4 Population density b (persons/km

More information

GROSS DOMESTIC PRODUCT, SECOND QUARTER OF 2014 (PRELIMINARY DATA)

GROSS DOMESTIC PRODUCT, SECOND QUARTER OF 2014 (PRELIMINARY DATA) GROSS DOMESTIC PRODUCT, SECOND QUARTER OF 2014 (PRELIMINARY DATA) In the second quarter of 2014 GDP at current prices amounts to 19 517 million BGN. In Euro terms GDP is 9 979 million Euro or 1 379 euro

More information

Global Economic Prospects

Global Economic Prospects Global Economic Prospects Assuring growth over the medium term Andrew Burns DEC Prospects Group January 213 1 Despite better financial conditions, stronger growth remains elusive More than 4 years after

More information

The Western Australia State 1.7%

The Western Australia State 1.7% Western Australia Economic Profile September 2017 THE ECONOMY Real gross state product (% change) Western Australia s gross state 1 product (GSP) of $239.7 billion in 9.1% 2015-16 was 14.5% of Australia

More information

Copper market outlook: Transitioning to deficits

Copper market outlook: Transitioning to deficits Copper market outlook: Transitioning to deficits Prepared for: Nonferrous Metals Forum of the Shanghai Derivatives Market Forum, 25 th May 27 Prepared by: Erik Heimlich, Senior Consultant, Copper Price

More information

The Election Economy. November 29, City of Georgetown

The Election Economy. November 29, City of Georgetown The Election Economy November 29, 2016 City of Georgetown More Growth Coming Why are people moving here? Citizens Quality of Life Planning for Growth 100% Renewable Energy by 2018 Transportation Investments

More information

Table 1.3 : Demand side growth in GDP, growth contribution and relative share (figures in per cent at market prices) Growth of GDP

Table 1.3 : Demand side growth in GDP, growth contribution and relative share (figures in per cent at market prices) Growth of GDP Aggregate demand and its composition 1.17 The most important contribution to demand growth during the Tenth Five Year Plan period (2002-07) had come from investment, while the external trade made negligible

More information

Øystein Olsen: The economic outlook

Øystein Olsen: The economic outlook Øystein Olsen: The economic outlook Address by Mr Øystein Olsen, Governor of Norges Bank (Central Bank of Norway), to invited foreign embassy representatives, Oslo, 29 March 2011. The address is based

More information

OUTLOOK FOR THE GLOBAL ECONOMY AND TRAVEL

OUTLOOK FOR THE GLOBAL ECONOMY AND TRAVEL January 2018 OUTLOOK FOR THE GLOBAL ECONOMY AND TRAVEL Adam Sacks President Tourism Economics @adam_sacks August 2018 Outline The Outlook for the Economy and Travel Views on the global economy Risks Will

More information

TRADE POLICY AND SUSTAINABLE DEVELOPMENT MEETING

TRADE POLICY AND SUSTAINABLE DEVELOPMENT MEETING TRADE POLICY AND SUSTAINABLE DEVELOPMENT MEETING Geneva, 6 -- 8 October 15 THE TRADE SLOWDOWN, TRADE DISTORTIONS, AND THE TPP Implications for Developing Countries Session-4 M r. Simon EVENETT Academic

More information

2015 CONTAINER SHIPPING OUTLOOK. By Mario O. Moreno Economist, JOC, IHS

2015 CONTAINER SHIPPING OUTLOOK. By Mario O. Moreno Economist, JOC, IHS 2015 CONTAINER SHIPPING OUTLOOK By Mario O. Moreno Economist, JOC, IHS Weak 2015 Outlook for U.S. Container Trade 2015 imports forecast downgraded on severity of West Coast port congestion, weak January

More information

Chart 2: Fixed Asset Investment (FAI) Year-over-year % change, 3MMA. Chart 1: China Real GDP Growth 12% QoQ Annualized 70% 10% Infrastructure 50%

Chart 2: Fixed Asset Investment (FAI) Year-over-year % change, 3MMA. Chart 1: China Real GDP Growth 12% QoQ Annualized 70% 10% Infrastructure 50% Chart 1: China Real GDP Growth 12% 1 YoY QoQ Annualized 8% 6% 4% 2% 1Q11 1Q12 1Q13 1Q14 Source: NBS, FactSet J.P. Morgan Asset Management. Chart 2: Fixed Asset Investment (FAI) Year-over-year % change,

More information

The analysis and outlook of the current macroeconomic situation and macroeconomic policies

The analysis and outlook of the current macroeconomic situation and macroeconomic policies The analysis and outlook of the current macroeconomic situation and macroeconomic policies Chief Economist of the Economic Forecast Department of the State Information Centre Wang Yuanhong 2014.05.28 Address:

More information

Eurozone Economic Watch. July 2018

Eurozone Economic Watch. July 2018 Eurozone Economic Watch July 2018 Eurozone: A shift to more moderate growth with increased downward risks BBVA Research - Eurozone Economic Watch July 2018 / 2 Hard data improved in May but failed to recover

More information

U.S. Global Investors Searching for Opportunities, Managing Risk

U.S. Global Investors Searching for Opportunities, Managing Risk U.S. Global Investors Searching for Opportunities, Managing Risk Global Infrastructure Gets a Domestic Boost Frank Holmes, CEO U.S. Global Investors Portfolio Manager Global MegaTrends Fund (MEGAX) John

More information

Restructuring of Malaysia s economy Post-GE14 International Factors and Perspectives Impacting Malaysia s 2019 Economic Outlook

Restructuring of Malaysia s economy Post-GE14 International Factors and Perspectives Impacting Malaysia s 2019 Economic Outlook Restructuring of Malaysia s economy Post-GE14 International Factors and Perspectives Impacting Malaysia s 2019 Economic Outlook Yeah Kim Leng Professor of Economics Sunway University Business School 24

More information

Reserve Bank of Fiji 24 January FIJI ECONOMY - Recent Economic Developments

Reserve Bank of Fiji 24 January FIJI ECONOMY - Recent Economic Developments Reserve Bank of Fiji 24 January 217 FIJI ECONOMY - Recent Economic Developments Developments in the International Economy that would impact on Fiji s Economy? Global growth/us/china Trading partner performances

More information