Asia Pacific: Economic overview
China’s economic expansion is set to slow, but Japan’s GDP growth could improve this year and India is expected to continue to grow strongly.
China’s economy is expected to grow by 6.5% this year and 6.2% next year, according to the latest projections from the OECD. This outlook follows the same downward trend in growth seen in the World Bank’s and the IMF’s most recent projections. The rebalancing of China’s economy from manufacturing to services is one of the reasons for the reduced outlook. Although China’s weaker economic expansion will limit the upside for gas demand growth this year, consumption is still expected to rise at a faster rate than last year.