Moody’s: Asia-Pacific’s strong rebound masks deep economic scars
The US-based rating agency, Moody’s Investors Service, is out with its assessment of the Asia-Pacific economy amidst the ongoing coronavirus crisis.
Key takeaways
Asia-Pacific’s strong rebound masks deep economic scars.
Asia-Pacific’s economic activity likely will rebound strongly in 2021 and 2022 as compared with recent performance.
Asia-Pacific's overall output will likely fall short of pre-pandemic forecasts by 2023 because of deep economic scars from the pandemic.
Asia-pacific likely to grow faster in 2021-22 than Middle East and North Africa and LatAm, but performance to increasingly diverge within region.
Sees about 30% of APAC economies will experience output decline of 2%-8% below pre-pandemic forecast GDP levels by 2023.
More than 40% of APAC economies will have output losses exceeding 8% of pre-pandemic GDP forecast levels by 2023.
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Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
