Asia Pacific: Economic overview
The outlook for Northeast Asia’s leading economies is mixed, with more limited growth in China expected in H2.
Figures for Q2 2016 show China’s GDP growth was 6.7% in Q2, flat when compared with Q1. However, growth could slow in the second half of the year. This would be in line with the OECD’s latest GDP forecast for China, which is for overall growth of 6.5% this year. A lack of expansion in manufacturing and a reduction in private investment, combined with weak growth in the financial sector, are contributing to the downward trend. Political tensions are high following the ruling by the Permanent Court of Arbitration at The Hague which has ruled in favour of the Philippines on the South China Sea dispute.
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