AMRO maintains 4.6% growth forecast for ASEAN+3 for 2023

The Asean+3 Macroeconomic Research Office (AMRO) maintained its short-term growth forecast of the ASEAN+3 region at the level of 4.6% for 2023, Intellasia.Net News reported referring to the July quarterly update of ASEAN+3 Regional Economic Outlook (AREO) 2023.

According to the forecast, the recovery of ASEAN+3 depends on strong demand in the region and especially on the improved outlook for the Plus-3 economies, namely Japan, South Korea, and China.

Meanwhile, inflation has slowed in most ASEAN+3 economies due to the easing of global commodity prices and supply chain normalisation. It allowed several central banks in the region to reduce the pace of monetary tightening, which in turn will boost consumption, Intellasia.Net News noted.

The original news article and data contributions have been taken from the EMIS Professional database, which you can learn more about here.

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