Three other large Asian economies, including India, Indonesia and Japan, are also showing robust domestic demand, added the economist.
His bullish forecast for the region correspond with the latest International Monetary Fund views that Asia Pacific remains a dynamic region despite a challenging year for the world economy.
The agency pointed out last week that Asia's domestic demand has so far remained strong despite monetary tightening. "We project the region will contribute more than 70 percent of global growth this year as its expansion accelerates to 4.6 percent from 3.8 percent last year," the IMFOn Tuesday, China is expected to release gross domestic product data, which is estimated to have grown 4% in the first quarter of this year, according to aChina's recovery is "going better than everybody's expectations," said Ahya, and he doesn't see inflation as a major risk for the country.
"Inflation is a lagging data point and I don't think we should look at the inflation number and conclude that the recovery is not going on track," he noted, adding China's property sector is "rebounding so sharply" which will add to the growth momentum.The increase follows the end of China's Covid controls. Central and local governments have also rolled out support for property purchases and developers in the last year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Defending Stanley Cup champion Avs peaking at the right timeThe Colorado Avalanche are peaking at the right time, giving the defending Stanley Cup champions a shot to repeat.
Read more »
Oh Canada, is this the year the Stanley Cup comes home?This year it will fall on the Toronto Maple Leafs, Edmonton Oilers and Winnipeg Jets to end Canada's national humiliation and a 30-year Stanley Cup drought by bringing home the famous mug to the country that claims to have given birth to the sport.
Read more »
Defending Stanley Cup champion Avs peaking at the right timeThe Colorado Avalanche are peaking at the right time, giving the defending Stanley Cup champions a shot to repeat.
Read more »
Who are the contenders, pretenders for the Stanley Cup?Can a Canadian team actually win the right to stage a Stanley Cup parade? The Maple Leafs and Oilers are stone-cold Cup contenders, but can anybody categorically say that this three decades-old curse ends this year? NHL
Read more »
Patrick Kane headlines long list of ex-Blackhawks in Stanley Cup playoffsPlenty of former Blackhawks will take part in the Stanley Cup playoffs, but most eyes will be on Patrick Kane & the Rangers, writes JDietzSports.
Read more »