Thanks to our Corporate Member & Silver Sponsor KBC Bank, we are able to share the insightful KBC Economic Perspectives – Asia Edition with you.
Here some highlights from the most recent edition:
- It will be challenging to orchestrate a swift economic rebound given problems still weighing on the real estate sector due to China’s strict zero-covid policy;
- Weaker demand from China, supply disruptions stemming from the lockdowns, and generally less favourable global conditions;
- The Russia-Ukraine war imposes a large negative supply shock on the global economy. Which leads to higher inflation and lower economic growth.
- KBC’s inflation outlook for 2022 and 2023 has been markedly upgraded.
- KBC maintains a forecast for 2022 real GDP growth at 3.1% but marked down their 2023 GDP growth forecast from 2.3% to 1.9%.
- Caused by the war in Ukraine, KBC expects the recovery in the euro area to come to a standstill in Q2 and Q3, with a downside risk of a technical recession.
- The path of policy normalization has become more complicated due to negative spillovers from the war in Ukraine.
Clearly this is a very abbreviated overview, please read more by clicking here.
Thanks to KBC Bank for sharing!