Asia Pacific: Economic overview
The outlook for leading economies in the region has improved.
China’s GDP growth is forecast to reach 6.7% this year, according to the latest outlook from the Asian Development Bank (ADB). This is an improvement from the 6.5% growth forecast in the ADB’s previous outlook. Strong consumption and social spending supported growth at the start of this year, lifting the economic outlook. The forecast for next year has improved as well – rising from 6.2% to 6.4%. Stronger-than-expected growth supported robust gas consumption at the start of the year. Although economic growth could ease in the second half of the year as demand for exports is expected to weaken, it should still support gas market expansion.