Economics

Daily analysis of the latest economic data points and policy developments in Asia and the major economies of the world.

Asia

India / GDP

Trade deficit widens on commodities

January 16, 2018
Trade deficit widens on commodities

India’s December trade numbers were a mixed bag. Whilst exports fared better on nominal terms, a strong jump in imports saw the trade deficit deteriorate sharply. The cumulative April-December goods ...

India / Rates

Firm inflation triggers policy debate

January 15, 2018
Firm inflation triggers policy debate

With inflation in India hovering at a 15-month high – amid signs of economic recovery – the Reserve Bank of India will have to extremely careful in its guidance on the direction of rates, inflation, ...

China / Currencies

Why has the PBOC changed the RMB fixing formula?

January 10, 2018
Why has the PBOC changed the RMB fixing formula?

The removal of the ‘adjustment factor’ is in large part due to more balanced cross-border flow and also signifies that the government’s growing discomfort with the RMB’s recent ascent against the gre...

Key Indicators

  • GDP
  • Inflation
  • Currency
  • Interest Rates
  • GDP
  • Inflation
  • Currency
  • Interest Rates

GDP growth, % YoY

201520162017e2018f2019f
China6.96.76.86.46.2
Hong Kong2.42.03.72.52.5
India*7.58.07.16.67.2
Indonesia4.95.05.15.35.4
Malaysia5.04.25.75.05.0
Philippines5.96.96.76.76.7
Singapore2.02.03.23.02.7
South Korea2.82.83.12.92.9
Taiwan0.81.42.42.52.4
Thailand2.93.23.84.04.0
Vietnam6.76.26.66.46.6
Eurozone1.91.82.11.91.9
Japan1.111.61.10.9
United States**2.61.52.22.42.5
* refers to year ending March ** eop for CPI inflation
Source: CEIC and DBS Group Research

CPI inflation, % YoY

201520162017e2018f2019f
China1.42.01.62.12.2
Hong Kong3.02.41.72.02.5
India*6.04.94.53.44.2
Indonesia6.43.53.84.04.5
Malaysia2.12.13.73.53.0
Philippines1.41.83.23.63.8
Singapore-0.5-0.50.61.01.8
South Korea0.71.01.91.81.8
Taiwan-0.31.40.61.01.0
Thailand-0.90.20.71.51.5
Vietnam0.62.73.73.63.8
Eurozone00.21.51.21.6
Japan0.8-0.10.40.61
United States**0.11.31.61.81.8
* refers to year ending March ** eop for CPI inflation
Source: CEIC and DBS Group Research

Exchange rates, end of period

1Q182Q183Q184Q181Q19
China*6.746.816.886.816.74
Hong Kong7.827.827.837.827.82
India65.2066.1067.0067.2067.40
Indonesia13,70013,80013,90014,00014,050
Malaysia4.284.304.324.304.28
Philippines51.652.052.452.853.2
Singapore**1.381.391.401.391.38
South Korea1,1501,1571,1641,1571,150
Taiwan
Thailand33.834.134.434.133.8
Vietnam***22,82022,87022,92022,97023,020
Eurozone1.141.121.101.121.14
Japan116119122121120
United States
* 1-yr lending rate; ** 3M SOR ; *** prime rate
Source: Bloomberg and DBS Group Research

Policy interest rates, end of period

1Q182Q183Q184Q181Q19
China*4.354.354.354.354.35
Hong Kongn.a.n.a.n.a.n.a.n.a.
India6.006.006.006.006.25
Indonesia4.254.254.254.504.75
Malaysia3.003.003.253.503.5
Philippines3.253.503.754.004.25
Singapore**1.401.651.902.152.15
South Korea1.501.751.752.002.00
Taiwan1.381.381.381.501.5
Thailand1.501.501.501.501.75
Vietnam***6.256.256.256.256.5
Eurozone0.000.000.000.000.00
Japan-0.10-0.1-0.10-0.1-0.1
United States1.501.752.002.252.25
* 1-yr lending rate; ** 3M SOR ; *** prime rate
Source: Bloomberg and DBS Group Research

From the Asian Insights Office

China: Defining the New Normal

China’s push for growth-at-any-cost is being replaced with the “New Normal”.It will fundamentally change how business and investing are done.

Read More

DBS Asian Insights

2017 Global Macro Outlook

December 14, 2016

Global

Global / Currencies

Markets turning skittish

January 18, 2018
Global

The euro, Japanese yen, and Korean won fell on the market’s skittishness to central banks’ displeasure over currency volatility. For more, check out our Overnight Wrap and the Day Ahead.

Global / GDP

This Week: Eye on China’s Q4 GDP

January 15, 2018
Global

China’s Q4 GDP growth numbers are in focus, along with the routine bunch of mid-month releases, which include industrial production, retail sales, and fixed asset investment trends.

Insights and Analysis

Singapore / GDP

Beyond the noises...

January 17, 2018

While Singapore’s exports moderated in December, the outlook remains bright, in our opinion.

Key summary points
  • Non-oil domestic export growth moderated to 3.1% YoY in Dec; the headline number fell 5% MoM, sa
  • A high base in the same period last year, technical payback from the strong performance…
  • …in the past few months and, most importantly, the strong SGD, are behind the weakness
  • We expect more volatility in exports in the coming months due to the upcoming Chinese New Year
  • But the overall outlook for NODX remains positive

Read more reports

There were no dcr path found

Discover All

  • Asia
  • Global
  • Asia
  • Global