by: Sarah Joson
Wednesday, November 19, 2014 | Outsourcing News |
The report also indicated that amidst the slowdown in China, growth in emerging Asia will stabilize, while the rest of the ASEAN nations will have robust growth. It is expected to be similar to the growth of the last decade - 5.6 percent for 2015-2019.
In last year’s report, growth for China was pegged at 7.7 percent, but it’s now seen averaging at 6.8 percent in the next five years. As for the 10 ASEAN economies, OECD previously predicted that expansion will be at 5.4 percent in 2014-2018.
Within the ASEAN-5 (the Philippines, Indonesia, Malaysia, Thailand, and Vietnam), the Philippines takes the lead with GDP growth pegged at an average of 6.2 percent annually from 2015-2019. This is higher than the 5.8 percent given for 2014-2018.
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