Analysis by Region - Asia Pacific
We expect growth to remain robust this year amid a further easing of Covid containment restrictions and entry requirements for visitors, with services set to be an increasing driver of growth. But we have lowered our 2022 GDP growth forecast by 0.4ppt to 4.4% following downgrades to our China GDP forecast, as lockdowns are adding pressure to strained global supply chains, notably in Thailand's automotive sector. We then forecast GDP growth to improve to 6.1% in 2023 on the back of strong tourism and easing disruptions to supply chains.
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