Regional Heatmap

The CAA Regional Heatmap shows a regional overview and also for individual economies in the region. It provides an efficient and holistic summary of the trends in various economic indicators.

Regional HeatMap (Based on the data as on 21-Jun-2019)
  • Regional
  • China
  • India
  • Indonesia
  • Malaysia
  • Philippines
  • Thailand
  • Vietnam
  • Hong Kong
  • Korea
  • Singapore
  • Taiwan
CN IN ID MY PH TH VN HK KR SG TW
Real GDP6.45.85.14.75.62.86.80.61.81.21.7
 
Demand Conditions
Retail Sales8.6NA9.08.6-0.610.211.6-4.91.4-1.70.0
Consumer Confidence125.3NA128.2NA-0.577.7NANA97.9NA79.5
Motor Vehicle Sales-16.65.0-16.341.41.28.7NA-6.03.7-15.0-11.1
Visitor Arrivals11.30.70.16.511.13.38.85.222.83.424.7
Government disbursement (ytd)106.514.08.48.3-3.28.85.69.216.410.48.7
Foreign Direct Investment3.722.0-11.512.0223.641.838.720.1-35.754.9232.1
Domestic Investment0.7NA14.2103.048.10.23.0NA-6.3822.5NA
Capital Goods Imports-3.016.3-8.7-1.80.0-4.49.5-2.60.5-0.7-1.0
Exports0.53.9-13.11.10.4-1.29.5-3.7-9.5-15.9-0.9
 
Supply Conditions
Industrial Production5.43.41.14.0-14.02.010.01.50.7-2.11.4
Purchasing Manager (Index)49.449.451.648.851.250.752.046.948.449.948.2
Business Confidence (Index)126.678.0102.194.335.295.9NA-1.090.01.095.1
Electricity Production5.86.015.24.55.711.411.0-13.80.02.6-1.2
Cement ProductionNANA-9.0NANA-2.5NANANA-2.1NA
Cargo Handled5.62.927.9NA6.60.23.8-6.1-8.53.31.7
 
Domestic Stability
CPI Inflation2.72.53.30.23.21.12.92.80.70.80.8
Policy rate (%)4.356.005.503.004.501.754.252.751.752.011.375
Real Interbank rate (%)0.73.84.23.30.30.80.9-0.40.61.4-0.3
Broad Money (M2)8.510.36.24.97.04.112.72.16.85.23.1
Credit Growth13.313.111.14.512.80.6NA0.56.11.44.8
Non-performing Loans (%)1.710.02.61.51.63.1NA0.70.51.40.2
Unemployment Rate (%)3.7NA5.03.45.11.12.22.94.03.03.7
 
External Resilience
Current Account (% GDP)0.6-2.4-3.12.1-2.66.68.64.94.517.511.8
Trade bal (3m rolling, USD bn)88.2-41.5-1.58.9-9.37.1-0.2-18.211.38.03.8
3m % chg in FX reserves0.44.6-2.4-0.13.1-1.2-2.70.8-0.7-9.30.1
3m % chg in FX rate (vs. USD)-1.72.0-2.5-2.2-0.1-1.5-0.70.0-5.4-1.2-1.4
Import cover (no. of months)17.79.88.15.88.811.12.88.89.28.619.6
REER-2.52.43.5-2.55.34.2NA5.2-6.20.9-0.9
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.76.76.86.86.86.86.86.86.76.66.4
 
Demand Conditions
Retail Sales8.59.08.89.09.28.68.18.28.77.28.6
Consumer Confidence Index118.2119.7118.6118.5119.1122.1123.0123.7126.0124.1125.3
Motor Vehicle Sales0.512.57.7-4.36.06.14.614.50.1-4.7-16.6
Visitor Arrivals-17.02.05.01.413.5-4.8-12.9-2.14.91.011.3
Government disbursement (ytd)8.17.87.36.97.57.66.88.6448.4202.6106.5
FDI Utilized -3.1-5.1-4.5-6.43.014.52.16.212.1-8.83.7
FAI (ytd)5.45.35.45.75.90.60.50.51.10.90.7
Capital Goods Imports (Proxy)12.129.515.117.516.3-5.8-16.4-7.4-12.1-7.6-3.0
Exports11.39.014.415.04.6-4.68.5-21.214.1-3.30.5
 
Supply Conditions
Industrial Production (IMF)15.4-2.16.07.06.86.06.06.15.84.25.4
Purchasing Manager (Index)51.251.350.850.250.049.449.549.250.550.149.4
Business Climate (Index)111.3113.5123.4123.1123.5123.4126.6124.5122.7120.2126.6
Electricity Production5.316.429.423.1-9.3-10.36.223.19.7-4.55.8
Freight Carried6.27.28.19.56.58.96.90.98.66.15.6
 
Domestic Stability
CPI Inflation2.12.32.52.52.21.91.71.52.32.52.7
Policy rate (%)4.354.354.354.354.354.354.354.354.354.354.35
Real Interbank rate (%)1.30.90.80.91.01.20.80.70.80.80.7
Broad Money (M2)8.58.28.38.08.08.18.48.08.68.58.5
Credit Growth13.213.213.213.113.113.513.413.413.713.413.3
Non-performing Loans (%)1.11.01.01.01.21.71.71.7
Unemployment Rate (%)4.044.023.973.953.953.903.893.833.823.803.67
 
External Resilience
Current Account (% GDP)0.71.71.53.01.42.10.81.41.0-0.40.6
Trade bal (3m rolling, USD bn)94.497.487.694.5111.3136.7140.9100.375.950.688.2
3m % chg in FX reserves-0.20.0-0.8-2.1-1.5-0.51.10.90.80.20.4
3m % chg in FX rate (vs. USD)-6.7-7.5-6.0-3.0-1.3-0.41.92.92.51.0-1.7
Import cover (no. of months)18.217.917.617.117.117.317.417.517.617.517.7
REER1.3-0.2-1.0-1.6-1.6-0.9-1.0-1.30.0-0.5-2.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP8.97.57.06.06.87.78.18.07.06.65.8
 
Demand Conditions
Motor Vehicle Sales2.10.411.87.7-9.6-28.6-21.2-16.4-4.220.45.0
Visitor Arrivals3.59.1-0.11.71.42.05.33.7-4.83.50.7
Government disbursement (ytd)8.710.112.713.512.79.17.88.89.57.914.0
Foreign Direct Investment97.011.0-27.737.16.5-25.516.822.5-33.72.322.0
Capital Goods Imports20.526.4-3.5-9.24.13.65.316.3
Exports15.819.1-2.516.4-1.1-0.13.72.611.80.63.9
 
Supply Conditions
Industrial Production (IPI)7.06.54.84.68.40.22.51.60.10.43.4
Purchasing Manager (Index)51.251.350.850.250.049.449.549.250.550.149.4
Business Expectations (Index)80.165.463.772.176.791.085.081.079.573.878.0
IPI: Electricity8.56.67.68.210.85.14.50.91.32.26.0
Railway Traffic4.15.23.79.65.13.32.84.36.63.22.9
 
Domestic Stability
WPI Inflation5.34.65.25.54.53.52.82.93.13.12.5
Policy rate (%)6.256.256.506.506.506.506.506.506.256.256.00
Real Interbank rate (%)2.93.03.23.13.33.53.94.04.43.83.8
Broad Money (M3)9.910.89.410.010.410.210.410.810.510.010.3
Credit Growth12.17.05.48.06.510.79.511.113.112.913.1
Non-performing Loans (%)2.42.73.44.04.35.99.210.0
 
External Resilience
Current Account (% GDP)-0.8-0.5-0.5-0.6-1.2-1.3-1.5-1.8-1.8-2.3-2.4
Trade bal (3m rolling, USD bn)-50.9-54.1-51.5-50.9-50.7-50.2-46.9-38.9-35.2-35.7-41.5
3m % chg in FX reserves-4.4-4.0-3.0-1.3-2.9-1.6-1.22.12.24.44.6
3m % chg in FX rate (vs. USD)-4.6-3.1-6.6-7.1-3.02.03.90.81.91.82.0
Import cover (no. of months)10.29.99.69.69.29.29.39.49.49.79.8
REER-4.3-4.6-6.6-8.1-6.5-5.6-5.2-3.50.11.02.4
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP5.04.95.05.05.15.25.15.35.25.25.1
 
Demand Conditions
Retail Sales2.96.14.82.93.47.77.29.110.16.79.0
Consumer Confidence124.8121.6122.4119.2122.7127.0125.5125.1124.5128.1128.2
Motor Vehicle Sales25.95.26.512.44.83.3-14.5-13.4-11.4-17.8-16.3
Visitor Arrivals15.212.48.59.611.49.022.510.25.3-1.70.1
Government disbursement (ytd)5.67.78.810.011.911.09.911.09.37.88.4
Investment Realisation: Foreign-0.2-5.55.415.412.711.411.5-13.5-20.2-11.6-11.5
Investment Realisation: Dom16.225.836.616.916.816.411.032.130.528.514.2
Capital Goods Imports15.221.918.916.025.7-1.9-0.5-5.0-0.8-7.9-8.7
Exports11.319.74.52.44.2-2.8-3.6-4.3-11.2-9.4-13.1
 
Supply Conditions
Industrial Production-7.14.53.93.18.76.26.55.21.08.31.1
Purchasing Manager (Index)50.551.950.750.550.451.249.950.151.250.451.6
Business Tendancy (Index)107.9106.7103.4111.6112.4111.0106.3112.8108.1104.7102.1
Electricity Sales7.810.47.014.29.612.321.121.612.42.015.2
Cement Consumption12.60.67.46.42.64.9-1.32.2-0.6-8.7-9.0
Port Cargo Handled-9.9-29.05.4-6.3-21.5-2.5-14.9-9.140.740.627.9
 
Domestic Stability
CPI Inflation3.23.22.93.23.23.12.82.62.52.83.3
Policy rate (%)4.254.254.254.254.254.254.254.755.255.255.50
Real Interbank rate (%)3.73.84.14.34.44.54.24.24.24.24.2
Broad Money (M2)5.96.45.96.77.36.66.35.56.06.56.2
Credit Growth10.711.211.912.413.111.911.711.912.011.511.1
Non-performing Loans (%)2.12.42.92.62.11.81.72.12.43.02.6
Unemployment Rate (%)5.75.95.86.25.55.65.35.55.15.35.0
 
External Resilience
Current Account (% GDP)-2.2-1.8-1.5-1.3-1.2-1.6-1.9-2.2-2.6-3.0-3.1
Trade bal (3m rolling, USD bn)-1.4-1.8-1.2-2.6-2.4-3.5-4.8-4.1-1.8-0.1-1.5
3m % chg in FX reserves-5.2-4.1-4.2-2.7-0.65.14.35.23.23.5-2.4
3m % chg in FX rate (vs. USD)-4.4-3.6-5.8-5.3-0.92.56.74.52.00.1-2.5
Import cover (no. of months)8.38.07.87.57.47.57.77.67.98.18.1
REER-6.3-5.5-7.2-7.6-3.6-2.0-0.13.03.04.03.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP4.04.34.55.65.86.25.95.44.54.44.7
 
Demand Conditions
Retail Sales9.09.110.113.512.210.49.29.812.912.18.6
Motor Vehicle Sales41.026.8-23.70.5-1.8-11.98.7-1.89.66.241.4
Visitor Arrivals-3.06.61.85.80.21.7-0.9-3.4-3.65.66.5
Government disbursement (ytd)0.4-3.10.31.5-0.53.6-4.66.08.56.18.3
Foreign Direct Investment25.423.55.2-0.747.7-11.2-1.020.4-41.55.612.0
Manuf Investment Approved-39.9-21.7-28.6-13.4-14.18.997.519.269.037.2103.0
Capital Goods Imports7.77.04.4-6.83.2-5.70.7-1.0-6.7-3.0-1.8
Exports8.29.1-0.36.917.81.45.53.2-5.3-0.61.1
 
Supply Conditions
Industrial Production1.42.82.12.44.02.13.43.21.73.14.0
Purchasing Manager (Index)49.751.251.549.248.246.847.947.647.249.448.8
Business Conditions (Index)83.981.2112.7114.1103.1101.598.6116.3108.895.394.3
Electricity Production2.44.24.05.03.52.83.42.87.74.84.5
 
Domestic Stability
CPI Inflation0.80.90.20.30.60.20.2-0.7-0.40.20.2
Policy rate (%)3.253.253.253.253.253.253.253.253.253.253.00
Real Interbank rate (%)1.11.31.61.92.22.42.73.03.23.23.3
Broad Money (M2)6.26.86.66.27.07.27.86.55.84.54.9
Credit Growth5.05.35.45.76.06.25.65.55.04.94.5
Non-performing Loans (%)6.54.83.63.42.72.01.81.61.61.61.5
Unemployment Rate (%)3.43.43.43.33.33.33.33.33.33.43.4
 
External Resilience
Current Account (% GDP)2.12.32.42.32.83.02.83.42.82.22.1
Trade bal (3m rolling, USD bn)6.95.64.06.18.09.58.47.28.19.08.9
3m % chg in FX reserves-4.6-3.7-1.5-2.7-2.3-1.50.40.31.51.3-0.1
3m % chg in FX rate (vs. USD)-4.2-3.4-3.5-2.7-2.2-0.71.02.52.20.1-2.2
Import cover (no. of months)6.05.95.85.85.65.65.65.65.75.85.8
REER5.05.03.02.91.0-0.5-1.9-1.1-0.9-2.4-2.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP7.16.76.46.67.26.66.56.26.06.35.6
 
Demand Conditions
Domestic Trade65.045.6-28.58.83.3-2.96.125.310.60.3-0.6
Consumer Exp (Current)2.59.28.713.110.29.51.73.8-7.1-22.5-0.5
Motor Vehicle Sales-24.1-14.1-9.7-9.2-23.4-29.8-15.017.128.60.81.2
Visitor Arrivals0.911.35.9-0.66.8-1.04.812.1-1.213.811.1
Government disbursement (ytd)20.522.623.323.624.824.120.7-7.26.90.8-3.2
Foreign Direct Investment-45.0-9.3-12.8-55.061.2-82.8-37.970.4-0.9321.2223.6
Investment Approved-20.4-17.321.829.7105.12.852.4-50.2-34.7114.248.1
Capital Goods Imports27.838.67.624.119.34.8-6.28.911.614.50.0
Exports3.72.34.01.16.71.0-12.2-6.7-0.1-1.80.4
 
Supply Indicators
Industrial Production (Volume)10.110.33.41.63.22.2-8.4-3.6-9.2-9.5-14.0
Purchasing Manager (Index)50.951.952.054.054.253.252.351.951.550.951.2
Business Outlook (Index)45.439.839.443.037.943.339.539.330.127.235.2
Electricity Production2.01.89.42.15.43.22.76.710.23.95.7
Port Cargo Handled8.97.16.91.31.77.1-0.23.90.8-0.46.6
 
Supply Conditions
CPI Inflation5.76.46.76.76.05.14.43.83.33.03.2
Policy rate (%)3.504.004.504.504.754.754.754.754.754.754.50
Real Interbank rate (%)-0.6-0.9-1.10.00.20.10.20.30.60.50.3
Broad Money (M3)11.811.110.59.98.58.79.57.77.16.17.0
Credit Growth17.518.217.916.518.515.614.613.113.311.512.8
Non-performing Loans (%)3.53.42.62.22.42.01.91.71.6
Unemployment Rate (%)4.76.65.75.65.05.35.55.45.15.25.1
 
External Resilience
Current Account (% GDP)0.3-0.4-0.9-0.6-0.1-0.7-0.5-1.5-2.4-2.4-2.6
Trade bal (3m rolling, USD bn)-11.1-11.4-11.2-11.6-12.0-12.5-12.7-12.2-10.8-9.8-9.3
3m % chg in FX reserves-3.6-1.6-3.3-2.6-2.95.710.49.45.61.73.1
3m % chg in FX rate (vs. USD)-2.6-2.1-1.7-1.10.92.22.91.20.70.7-0.1
Import cover (no. of months)9.08.68.78.28.08.08.48.78.88.88.8
REER-1.81.41.11.93.31.53.06.76.06.45.3
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.13.13.54.24.54.05.04.73.23.62.8
 
Demand Conditions
Retail Sales6.27.415.816.710.120.113.210.59.47.510.2
Consumer Confidence82.283.282.381.380.579.480.782.080.679.277.7
Motor Vehicle Sales25.925.727.714.326.821.28.917.39.18.58.7
Visitor Arrivals10.82.51.32.1-0.54.57.74.91.0-0.73.3
Government disbursement (ytd)4.53.73.64.54.61.30.06.48.38.48.8
FDI Approved ytd-31.6-26.9-7.6-8.3-33.4-36.011.8-0.96.310.741.8
Private Investment Index6.34.45.40.14.83.5-0.51.2-2.7-1.60.2
Capital Goods Imports-3.25.7-6.7-0.24.5-2.2-2.9-21.5-3.13.6-4.4
Exports5.77.25.4-7.07.00.4-1.6-6.3-3.8-2.8-1.2
 
Supply Conditions
VAPI4.94.82.3-0.15.70.81.20.6-1.3-2.72.0
Purchasing Manager (Index)50.149.950.048.949.850.350.249.950.351.050.7
Thai Industry Sentiment (Index)93.292.591.592.693.993.293.895.696.395.095.9
Electricity Production1.72.4-1.0-2.04.43.96.92.37.54.811.4
Cement Consumption-4.9-10.6-3.8-3.62.72.8-5.41.1-4.7-3.4-2.5
Port Cargo Handled2.33.31.1-0.54.24.25.2-3.65.510.60.2
 
Domestic Stability
CPI Inflation1.51.61.31.20.90.40.30.71.21.21.1
Policy rate (%)1.501.501.501.501.501.751.751.751.751.751.75
Real Interbank rate (%)0.70.60.50.50.50.80.80.80.80.80.8
Broad Money5.15.04.64.85.34.74.74.34.83.84.1
Credit Growth7.04.63.74.83.51.82.61.10.01.80.6
Non-performing Loans (%)7.65.65.23.92.92.42.32.32.73.03.1
Unemployment Rate (%)1.01.01.01.01.00.91.00.80.91.01.1
 
External Resilience
Current Account (% GDP)12.011.711.110.611.011.010.710.38.17.06.6
Trade bal (3m rolling, USD bn)6.87.24.83.63.93.94.42.95.76.87.1
3m % chg in FX reserves-4.5-3.8-1.1-1.8-0.70.64.04.63.20.3-1.2
3m % chg in FX rate (vs. USD)-6.3-3.3-0.31.50.2-0.43.04.93.0-0.2-1.5
Import cover (no. of months)11.411.311.010.910.610.610.710.911.111.211.1
REER1.12.64.33.42.11.93.45.03.63.04.2
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP (ytd)6.06.25.15.76.46.87.47.17.07.16.8
 
Demand Conditions
Retail Sales (ytd)11.111.211.311.411.511.712.212.212.011.911.6
Visitor Arrivals (ytd)25.422.822.922.421.319.95.08.07.07.68.8
Government disbursement (ytd)5.67.211.29.28.88.35.85.66.58.55.6
Foreign Direct Investment (ytd)2.20.2-3.0-7.8-20.3-15.581.975.780.150.438.7
State Investment (ytd)9.510.311.312.112.311.93.94.33.13.63.0
Capital Goods Imports (Proxy)6.21.90.719.23.8-0.218.19.014.725.19.5
Exports16.918.39.311.08.70.38.9-3.37.210.49.5
 
Supply Conditions
Industrial Production (IPI)14.311.39.17.79.711.48.110.19.29.310.0
Purchasing Manager (Index)54.953.751.553.956.553.851.951.251.952.552.0
IPI: Electricity12.25.55.18.99.511.78.310.29.612.411.0
Freight Carried13.213.413.613.513.513.310.56.85.34.33.8
 
Domestic Stability
CPI Inflation4.54.04.03.93.53.02.62.62.72.92.9
Policy rate (%)4.254.254.254.254.254.254.254.254.254.254.25
Real Interbank rate (%)0.61.20.61.51.92.11.91.01.00.70.9
Broad Money (M2)19.119.817.916.614.414.014.315.416.113.112.7
Unemployment Rate (%)2.32.32.32.32.22.22.22.22.22.22.2
 
External Resilience
Current Account (% GDP)-0.10.57.85.45.84.0-2.8-1.02.12.78.6
Trade bal (3m rolling, USD bn)-1.12.23.24.72.70.30.3-0.71.70.3-0.2
3m % chg in FX reserves10.67.5-3.03.63.65.518.514.52.6-1.3-2.7
3m % chg in FX rate (vs. USD)-0.7-0.5-0.5-0.3-0.2-0.4-0.6-0.8-0.8-0.6-0.7
Import cover (no. of months)3.13.13.13.13.13.13.03.02.82.82.8
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.33.44.44.03.63.54.63.62.81.20.6
 
Demand Conditions
Retail Sales (Vol)9.95.98.01.45.31.30.16.9-10.6-0.8-4.9
Retail Sales (Motor Vehicle, Vol)8.54.26.6-11.713.47.08.77.8-3.51.6-6.0
Visitor Arrivals12.85.717.41.811.520.617.927.25.817.35.2
Government disbursement (ytd)15.915.215.013.312.912.011.710.910.512.99.2
Foreign Direct Investment253.837.039.666.9-64.7-3.1-17.2-63.149.1-38.620.1
Capital Goods Imports0.110.713.94.722.11.2-1.80.0-2.22.5-2.6
Domestic Exports4.96.313.5-2.916.513.11.522.111.49.6-3.7
 
Supply Conditions
Industrial Production-0.1-0.90.20.40.40.71.01.61.11.21.5
Purchasing Manager (Index)48.248.547.948.647.148.048.248.448.048.446.9
Business Situation (Index)2.0-1.05.06.05.02.08.06.02.0-12.0-1.0
Electricity Production-1.9-0.46.0-2.8-14.35.4-1.34.615.3-8.0-13.8
Cargo Handled-2.5-1.6-11.0-10.0-17.4-12.0-13.3-13.0-12.9-11.2-6.1
 
Domestic Stability
CPI Inflation2.42.32.72.72.62.52.42.12.12.92.8
Policy rate (%)2.252.252.502.502.502.752.752.752.752.752.75
Real Interbank rate (%)0.0-0.10.1-0.1-0.3-0.1-0.7-0.8-0.6-0.4-0.4
Broad Money (M2)5.03.94.74.71.03.54.32.43.23.92.1
Credit Growth10.99.58.47.22.05.34.43.13.03.10.5
Non-performing Loans (%)1.21.60.80.70.60.50.50.70.90.7
Unemployment Rate (%)2.92.93.02.92.82.72.62.62.82.82.9
 
External Resilience
Current Account (% GDP)4.24.03.74.14.84.74.54.13.74.34.9
Trade bal (3m rolling, USD bn)-18.4-18.4-19.5-18.7-18.4-17.5-18.0-13.6-14.1-15.1-18.2
3m % chg in FX reserves-0.6-1.7-1.3-2.0-0.4-0.42.12.73.11.00.8
3m % chg in FX rate (vs. USD)0.00.00.10.10.30.20.0-0.2-0.40.00.0
Import cover (no. of months)8.98.88.58.58.48.48.58.68.78.88.8
REER0.12.03.43.23.74.35.35.65.56.25.2
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.72.62.92.83.82.82.82.82.03.11.8
 
Demand Conditions
Retail Sales (Real)4.35.65.60.45.11.03.14.3-1.92.41.4
Consumer Sentiment Index100.898.9100.099.295.796.997.599.599.8101.697.9
Motor Vehicle Sales-8.01.4-19.229.60.715.38.3-0.1-3.92.23.7
Visitor Arrivals29.324.426.118.531.123.516.815.615.012.422.8
Government disbursement (ytd)10.813.411.09.69.07.27.225.217.012.916.4
Foreign Direct Investment2.1-18.2-9.0-9.1-11.249.827.988.5-13.6-17.8-35.7
Index of Equipment Investment-13.7-9.8-11.2-19.310.2-9.4-15.1-17.0-26.9-15.6-6.3
Capital Goods Imports1.2-6.4-13.811.4-3.5-7.9-9.0-20.4-10.70.10.5
Exports6.18.7-8.122.53.6-1.7-6.2-11.3-8.4-2.1-9.5
 
Supply Conditions
Industrial Production (IPI)1.02.52.0-4.57.60.20.40.9-1.9-0.50.7
Purchasing Manager (Index)48.349.951.351.048.649.848.347.248.850.248.4
Business Conditions (Index)92.593.684.490.588.890.588.691.090.291.890.0
IPI: Electricity4.64.48.5-3.46.5-0.3-0.6-0.9-4.1-0.10.0
Cargo Handled6.63.58.812.05.33.77.00.86.3-1.0-8.5
 
Domestic Stability
CPI Inflation1.11.42.12.02.01.30.80.50.40.60.7
Policy rate (%)1.501.501.501.501.751.751.751.751.751.751.75
Real Interbank rate (%)0.20.30.30.40.40.40.40.50.50.60.6
Broad Money (M2)6.86.76.46.07.26.56.76.26.66.96.8
Credit Growth6.46.36.56.46.46.46.46.36.36.06.1
Non-performing Loans (%)0.60.60.60.50.60.60.50.50.5
Unemployment Rate (%)3.84.14.03.93.83.84.43.73.84.14.0
 
External Resilience
Current Account (% GDP)6.96.55.74.85.04.64.24.34.44.44.5
Trade bal (3m rolling, USD bn)19.219.823.322.820.715.210.08.39.212.011.3
3m % chg in FX reserves1.00.50.70.10.50.20.70.40.4-0.4-0.7
3m % chg in FX rate (vs. USD)-5.1-4.1-2.3-0.8-0.4-0.21.00.3-0.8-1.9-5.4
Import cover (no. of months)9.49.39.39.19.09.19.19.29.29.29.2
REER0.12.74.72.91.1-0.5-1.40.3-1.5-2.7-6.2
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.43.93.73.04.63.64.64.22.61.31.2
 
Demand Conditions
Retail Sales (constant)1.1-3.2-1.31.70.6-1.2-5.67.4-9.7-0.3-1.7
Motor Vehicle Registrations-30.0-23.14.5-5.6-11.9-33.848.0-4.03.4-1.1-15.0
Visitor Arrivals11.36.27.97.24.60.72.13.90.5-1.23.4
Government disbursement (ytd)21.819.2-7.5-3.9-2.2-1.88.41.65.25.010.4
Foreign Direct Investment-15.711.691.4-24.357.026.3-45.7-2.910.2-16.054.9
Net Invest Commit (Manuf)-40.337.3-44.6165.0-70.835.7-74.8-5.2-14.89.2822.5
Capital Goods Imports (Proxy)12.28.66.811.83.01.88.94.63.96.5-0.7
NODX10.95.08.18.0-2.8-8.5-10.14.8-11.8-10.0-15.9
 
Supply Conditions
Industrial Pdn (Excl. Biomed Mfg)7.16.24.22.84.44.8-2.8-0.80.9-8.0-2.1
Purchasing Manager (Index)52.352.652.451.951.551.150.750.450.850.349.9
Business Expectations (Index)7.0-4.016.09.06.010.024.05.02.0-2.01.0
Electricity Production1.41.30.6-0.90.70.51.05.72.81.52.6
Cement Demand-26.3-13.4-14.9-17.2-2.2-9.4-6.2-8.22.3-4.8-2.1
Sea Cargo Handled4.33.5-4.7-0.6-2.5-0.3-2.4-2.1-3.34.53.3
 
Domestic Stability
CPI Inflation0.60.60.70.70.70.30.50.40.50.60.8
Policy rate (3m SIBOR, %)1.631.641.641.641.771.891.891.951.941.952.01
Real Interbank rate (%)1.11.21.21.21.21.31.41.51.51.51.4
Broad Money (M2)2.62.63.63.43.03.53.94.04.24.85.2
Credit Growth5.95.55.64.53.42.83.03.23.32.21.4
Non-performing Loans (%)1.42.01.41.11.00.90.80.91.21.4
Res Unemployment Rate (%)2.93.23.23.13.12.92.92.92.93.03.0
 
External Resilience
Current Account (% GDP)21.814.517.717.418.414.317.921.121.115.217.5
Trade bal (3m rolling, USD bn)10.010.710.511.49.16.65.55.77.97.88.0
3m % chg in FX reserves0.50.51.10.40.0-1.31.21.02.81.0-9.3
3m % chg in FX rate (vs. USD)-3.6-2.2-1.7-1.2-0.40.01.71.51.20.0-1.2
Import cover (no. of months)9.89.79.79.59.49.39.59.49.59.58.6
REER-0.80.0-0.2-0.20.00.40.71.41.01.00.9
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.12.82.92.53.43.53.23.32.41.81.7
 
Demand Conditions
Retail Sales3.63.51.8-0.91.3-0.20.32.08.0-9.20.0
Consumer Confidence82.482.683.582.080.179.783.684.784.485.379.5
Motor Vehicle Sales-6.3-25.8-23.4-23.1-29.80.6-26.8-18.7-29.32.5-11.1
Visitor Arrivals2.62.44.82.03.50.51.2-0.512.46.524.7
Government disbursement (ytd)1.00.21.02.74.54.84.637.511.99.08.7
Foreign Investment Approved373.120.1102.1120.5-9.9109.1-6.8-76.0-52.2331.1232.1
Capital Goods Imports15.713.710.110.80.67.711.9-9.421.33.9-1.0
Exports4.93.44.89.3-1.4-0.43.6-3.80.72.0-0.9
 
Supply Conditions
Industrial Production0.04.71.11.78.82.6-1.1-1.1-2.0-9.41.4
Purchasing Manager (Index)55.354.954.651.246.746.546.147.449.151.748.2
Mfg Sentiment (Index)100.4101.598.393.588.585.686.089.791.295.995.1
Electricity Consumption4.13.72.10.6-2.9-2.3-0.40.41.3-1.7-1.2
Cargo Handled2.39.10.43.17.16.4-0.51.9-4.21.81.7
 
Domestic Stability
CPI Inflation1.91.91.91.40.4-0.10.30.50.60.60.8
Policy rate (%)1.3751.3751.3751.3751.3751.3751.3751.3751.3751.3751.375
Real Interbank rate (%)-0.9-0.9-1.0-1.0-1.0-0.8-0.7-0.6-0.5-0.4-0.3
Broad Money (M2)3.73.23.33.03.22.73.43.03.33.63.1
Credit Growth5.74.84.64.94.75.25.26.15.54.64.8
Non-performing Loans (%)1.51.10.60.40.40.40.20.20.30.30.2
Unemployment Rate (%)3.723.723.713.703.703.693.703.723.713.723.73
 
External Resilience
Current Account (% GDP)13.213.514.113.513.114.514.813.511.612.211.8
Trade bal (3m rolling, USD bn)4.64.83.95.15.66.23.94.83.14.93.8
3m % chg in FX reserves0.30.60.70.40.30.30.60.60.50.40.1
3m % chg in FX rate (vs. USD)-4.0-2.8-2.1-1.1-0.3-0.20.20.0-0.2-0.1-1.4
Import cover (no. of months)19.919.919.719.419.419.419.319.619.519.519.6
REER-1.0-0.10.5-0.4-1.0-1.3-1.9-1.4-1.4-0.9-0.9

Source: Centennial Asia Advisors using CEIC Database and Markit PMI press release

Note1: Figures in % y/y unless otherwise stated

Note2: Bright green refers to positive conditions 2 s.d. above/below the 2 yr mean

Note3: Dark red refers to negative conditions 2 s.d. above/below the 2 yr mean

Note4: NPLs refer to annual data compiled by the World Bank, based on 10yr mean