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 14-June-2018)
  • 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 GDP6.87.75.15.46.84.87.43.42.84.43.0
 
Demand Conditions
Retail Sales8.5NA4.49.26.15.210.111.02.23.71.6
Consumer Confidence122.9NA125.1NA3.880.1NA82.1107.9NA85.6
Motor Vehicle Sales4.69.114.110.2-11.925.2NA15.4-1.9-11.95.3
Visitor Arrivals7.74.411.0-8.012.09.427.611.023.86.6-4.7
Government disbursement (ytd)10.3-7.78.33.630.715.35.89.810.68.30.4
Foreign Direct Investment2.16.811.5-3.0-37.9-7.3-16.86.228.1-30.0-38.8
Domestic Investment6.0NA11.097.552.37.07.5NA0.6-74.8NA
Capital Goods Imports28.3-15.040.83.129.3-4.7-6.18.98.513.14.6
Exports11.45.29.014.2-8.54.111.313.913.511.812.6
 
Supply Conditions
Industrial Production6.24.94.73.031.12.311.20.7-6.09.33.1
Purchasing Manager (Index)51.850.350.4NANANANANA51.252.763.6
Business Confidence (Index)126.685.0106.398.639.389.1NA8.092.024.098.3
Electricity Production5.32.112.15.93.9-1.19.0-1.38.74.73.6
Cement ProductionNANA6.0NANA-2.5NANANA-6.2NA
Cargo Handled7.46.2-7.15.81.18.212.6-2.5-8.1-1.80.4
 
Domestic Stability
CPI Inflation1.85.73.21.45.21.53.91.91.50.11.5
Policy rate (%)6.006.004.753.253.751.504.252.001.501.511.375
Real Interbank rate (%)2.53.73.40.8-2.90.9-0.3-0.40.01.1-0.7
Broad Money (M2)8.910.77.56.314.25.314.39.85.63.23.5
Credit Growth12.69.58.94.818.48.3NA17.16.25.74.7
Non-performing Loans (%)1.77.63.01.71.72.9NA0.70.61.10.3
Unemployment Rate (%)3.9NA5.13.35.51.02.23.33.82.83.7
 
External Resilience
Current Account (% GDP)0.8-1.9-2.13.7-0.810.62.74.34.519.813.5
Trade bal (3m rolling, USD bn)48.3-39.4-0.69.4-9.15.52.5-18.520.012.37.4
3m % chg in FX reserves-0.8-0.4-4.04.6-1.8-0.118.5-2.61.11.80.1
3m % chg in FX rate (vs. USD)-0.8-4.8-3.5-1.2-0.8-1.5-0.6-0.30.2-1.5-2.1
Import cover (no. of months)18.810.98.96.49.612.03.19.39.510.120.4
REER5.7-4.9-7.56.8-6.64.0NA-5.60.2-1.3-2.0
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.96.96.76.76.76.76.96.96.96.96.8
 
Demand Conditions
Retail Sales10.711.010.410.110.310.010.29.410.19.48.5
Consumer Confidence Index113.3114.6114.7118.6123.9121.3122.6122.3124.0122.3122.9
Motor Vehicle Sales0.8-0.4-4.3-3.60.512.57.7-4.36.06.14.6
Visitor Arrivals-16.75.21.94.614.8-2.9-5.90.06.31.57.7
Government disbursement (ytd)16.114.813.411.710.38.38.2-7.216.911.110.3
FDI Utilized 10.3-1.21.51.4-3.1-5.1-4.5-6.43.014.52.1
FAI (ytd)8.37.67.46.96.85.97.87.87.47.06.0
Capital Goods Imports (Proxy)12.611.812.418.717.719.76.150.16.124.528.3
Exports6.04.67.46.212.310.79.742.9-3.611.111.4
 
Supply Conditions
Industrial Production (IMF)6.15.75.66.25.95.94.96.86.06.06.2
Purchasing Manager (Index)51.351.651.851.251.251.751.451.752.451.651.8
Business Climate (Index)107.1107.8111.3113.5123.4123.1123.5123.4126.6
Electricity Production3.517.130.421.1-5.2-10.35.816.95.0-4.15.3
Freight Carried12.012.411.411.28.07.9-2.013.9-3.86.37.4
 
Domestic Stability
CPI Inflation1.41.81.61.91.71.81.52.92.11.81.8
Policy rate (%)6.006.006.006.006.006.006.006.006.006.006.00
Real Interbank rate (%)2.62.72.72.83.23.43.33.12.72.22.5
Broad Money (M2)9.28.99.28.89.18.29.29.28.88.98.9
Credit Growth13.213.213.113.013.312.713.212.812.812.712.6
Non-performing Loans (%)7.16.22.41.61.11.01.01.01.11.71.7
Unemployment Rate (%)4.054.054.044.054.044.023.973.953.953.903.89
 
External Resilience
Current Account (% GDP)1.51.90.71.71.53.01.42.10.81.20.8
Trade bal (3m rolling, USD bn)130.3131.4117.2108.7107.0133.1115.2108.849.157.248.3
3m % chg in FX reserves1.71.21.70.90.91.01.70.50.1-1.2-0.8
3m % chg in FX rate (vs. USD)1.73.23.52.10.7-0.43.14.64.22.0-0.8
Import cover (no. of months)21.321.120.920.720.420.520.119.819.619.218.8
REER-3.4-2.3-1.00.00.5-0.2-1.1-0.64.54.55.7
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP8.27.39.38.17.66.86.15.66.37.07.7
 
Demand Conditions
Motor Vehicle Sales9.612.220.617.0-4.3-22.9-13.6-0.312.936.89.1
Visitor Arrivals22.57.411.018.818.114.415.28.410.113.44.4
Government disbursement (ytd)27.123.118.611.812.314.915.613.714.08.3-7.7
Foreign Direct Investment-14.5-3.341.334.10.565.827.731.4-1.694.96.8
Capital Goods Imports-6.6-8.4-2.2-3.4-14.5-1.6-20.4-22.2-3.9-26.0-15.0
Exports1.62.67.324.6-2.230.015.011.64.5-0.75.2
 
Supply Conditions
Industrial Production (IPI)-0.31.04.84.11.88.57.37.57.04.64.9
Purchasing Manager (Index)50.450.752.552.551.650.947.951.251.251.350.3
Business Expectations (Index)79.385.981.183.280.165.463.772.176.791.085.0
IPI: Electricity2.16.68.33.43.23.94.47.64.55.92.1
Railway Traffic5.67.75.92.63.17.06.44.13.98.36.2
 
Domestic Stability
WPI Inflation1.22.13.73.93.83.83.43.75.56.55.7
Policy rate (%)6.256.256.006.006.006.006.006.006.006.006.00
Real Interbank rate (%)3.03.13.23.33.23.23.73.73.93.33.7
Broad Money (M3)6.76.75.66.18.410.010.410.39.510.610.7
Credit Growth8.910.99.39.412.17.05.48.06.510.79.5
Non-performing Loans (%)3.52.72.42.22.42.73.44.04.35.97.6
 
External Resilience
Current Account (% GDP)-1.1-1.1-1.1-0.8-0.5-0.5-0.6-1.2-1.3-1.5-1.9
Trade bal (3m rolling, USD bn)-41.0-39.8-38.7-34.4-37.0-38.5-43.2-44.3-41.9-41.4-39.4
3m % chg in FX reserves4.55.54.73.51.41.02.25.84.73.8-0.4
3m % chg in FX rate (vs. USD)0.20.70.0-0.9-1.40.42.10.6-1.2-3.2-4.8
Import cover (no. of months)11.311.311.311.211.111.011.011.111.011.010.9
REER5.04.55.33.22.33.73.12.6-0.7-3.1-4.9
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP4.85.24.95.25.04.95.05.05.15.25.1
 
Demand Conditions
Retail Sales-3.32.21.82.22.50.7-1.81.52.54.14.4
Consumer Confidence123.4121.9123.8120.7122.1126.4126.1122.5121.6122.2125.1
Motor Vehicle Sales-27.437.91.0-5.22.5-4.6-2.111.2-0.8-0.514.1
Visitor Arrivals29.633.636.120.611.36.03.06.617.428.611.0
Government disbursement (ytd)3.25.75.65.35.66.97.74.010.34.88.3
Investment Realisation: Foreign-0.817.05.4-3.0-0.2-5.55.415.412.711.411.5
Investment Realisation: Dom15.010.618.421.616.225.836.616.916.816.411.0
Capital Goods Imports-27.261.57.112.810.527.620.530.232.221.940.8
Exports-11.741.119.415.719.613.57.58.612.06.29.0
 
Supply Conditions
Industrial Production-1.13.94.87.76.45.04.08.05.63.14.7
Purchasing Manager (Index)50.449.350.551.250.649.548.650.750.450.150.4
Business Tendancy (Index)106.0105.299.5110.2107.9106.7103.4111.6112.4111.0106.3
Electricity Sales17.210.96.65.51.00.11.911.015.420.112.1
Cement Consumption-26.856.49.412.812.512.16.410.15.93.56.0
Port Cargo Handled6.2-16.121.7-3.111.10.12.25.5-5.8-6.0-7.1
 
Domestic Stability
CPI Inflation3.93.83.73.63.33.63.33.23.43.43.2
Policy rate (%)4.754.504.254.254.254.254.254.254.254.254.75
Real Interbank rate (%)3.31.91.41.41.51.71.51.61.62.03.4
Broad Money (M2)10.39.510.010.910.69.38.38.48.37.57.5
Credit Growth7.68.08.07.78.17.48.27.58.28.58.9
Non-performing Loans (%)1.72.12.42.92.52.11.81.72.12.43.0
Unemployment Rate (%)5.96.35.75.95.86.25.55.65.35.55.1
 
External Resilience
Current Account (% GDP)-3.5-3.2-3.1-3.1-2.9-3.1-3.0-2.4-2.1-2.0-2.1
Trade bal (3m rolling, USD bn)3.62.03.13.24.53.01.0-0.8-1.00.3-0.6
3m % chg in FX reserves3.73.15.1-0.9-2.20.64.31.7-3.2-5.4-4.0
3m % chg in FX rate (vs. USD)-0.3-0.10.0-1.4-1.4-1.91.1-0.5-1.5-3.2-3.5
Import cover (no. of months)10.410.410.410.410.09.810.09.99.49.28.9
REER4.41.41.40.1-2.4-2.7-4.8-5.5-7.3-7.9-7.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP4.84.74.14.04.34.55.65.86.25.95.4
 
Demand Conditions
Retail Sales6.17.47.98.79.09.110.113.512.210.49.2
Motor Vehicle Sales-12.414.3-1.0-14.8-1.80.2-15.6-0.2-4.4-6.910.2
Visitor Arrivals-2.31.82.1-4.90.6-1.4-6.7-1.2-11.1-2.2-8.0
Government disbursement (ytd)0.3-0.2-1.23.52.10.4-3.10.31.5-0.53.6
Foreign Direct Investment5.3-6.542.6-11.825.423.55.2-0.736.5-14.9-3.0
Manuf Investment Approved7.04.0-73.6-60.4-39.9-21.7-28.6-13.4-14.18.997.5
Capital Goods Imports8.26.627.321.724.121.04.49.30.1-12.73.1
Exports9.631.421.614.718.913.94.618.0-2.02.214.2
 
Supply Conditions
Industrial Production4.53.94.93.65.76.74.73.25.02.83.0
Business Conditions (Index)86.487.192.9106.483.981.2112.7114.1103.1101.598.6
Electricity Production2.20.37.71.31.74.13.33.43.82.35.9
Cargo Handled5.4-4.61.96.84.48.46.34.13.18.45.8
 
Domestic Stability
CPI Inflation3.43.13.64.23.73.43.52.71.41.31.4
Policy rate (%)3.003.003.003.003.003.003.253.253.253.253.25
Real Interbank rate (%)0.81.01.11.21.21.31.41.41.21.00.8
Broad Money (M2)4.34.95.45.15.35.34.84.74.96.06.3
Credit Growth5.75.65.85.24.63.94.14.24.54.44.8
Non-performing Loans (%)1.61.61.73.63.42.72.01.81.61.61.7
Unemployment Rate (%)3.43.53.43.43.43.33.33.43.33.33.3
 
External Resilience
Current Account (% GDP)2.73.02.62.12.32.42.22.63.03.03.7
Trade bal (3m rolling, USD bn)5.65.56.56.36.96.96.66.66.58.59.4
3m % chg in FX reserves3.52.62.32.01.31.22.11.85.25.74.6
3m % chg in FX rate (vs. USD)2.60.81.61.42.63.16.56.24.31.7-1.2
Import cover (no. of months)6.66.56.56.56.46.36.36.26.26.46.4
REER-2.0-4.6-4.2-0.9-0.12.95.66.45.96.16.8
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.46.76.77.07.16.76.56.67.26.56.8
 
Demand Conditions
Domestic Trade-37.4-8.640.239.365.045.6-28.58.83.3-2.96.1
Consumer Exp (Current)-8.1-5.7-6.42.59.28.713.110.29.51.73.8
Motor Vehicle Sales14.123.38.79.517.323.833.44.0-3.2-22.8-11.9
Visitor Arrivals19.63.41.38.513.418.210.56.416.016.312.0
Government disbursement (ytd)9.09.39.88.310.010.110.815.525.527.130.7
Foreign Direct Investment165.045.620.311.5-45.0-9.3-12.8-55.061.1-82.8-37.9
Investment Approved5.443.73.397.5-20.4-17.321.829.7105.12.852.3
Capital Goods Imports-4.2-11.59.8-6.12.616.116.017.523.7-2.729.3
Exports17.121.918.711.617.414.28.4-4.0-5.5-8.2-8.5
 
Supply Indicators
Industrial Production (Volume)-0.1-5.10.3-5.7-6.6-10.2-5.917.222.416.531.1
Business Outlook (Index)51.341.948.745.439.839.443.037.943.339.539.3
Electricity Production5.02.01.89.42.15.43.22.76.710.23.9
Port Cargo Handled5.711.18.711.18.97.14.84.81.06.81.1
 
Supply Conditions
CPI Inflation2.83.13.43.53.33.34.04.54.85.15.2
Policy rate (%)3.503.503.503.503.503.503.503.503.503.503.75
Real Interbank rate (%)-2.8NA-2.3-1.6-2.1-1.8-2.1-2.5-2.6-2.6-2.9
Broad Money (M3)13.413.915.814.815.114.311.912.813.514.414.2
Credit Growth18.419.319.318.421.017.016.717.318.316.918.4
Non-performing Loans (%)3.53.42.62.22.42.01.91.7
Unemployment Rate (%)5.65.76.15.44.76.65.75.65.05.35.5
 
External Resilience
Current Account (% GDP)4.03.32.52.10.60.3-0.4-0.9-0.60.1-0.8
Trade bal (3m rolling, USD bn)-5.6-5.4-5.6-5.8-7.1-7.6-9.8-10.4-10.0-8.7-9.1
3m % chg in FX reserves-1.2-0.5-0.4-0.8-1.70.81.00.2-1.3-2.0-1.8
3m % chg in FX rate (vs. USD)-1.6-2.0-2.3-1.4-0.31.21.6-1.5-3.3-3.1-0.8
Import cover (no. of months)10.910.910.810.610.410.210.210.19.99.99.6
REER-4.8-5.1-6.6-5.2-4.4-4.2-4.8-5.9-7.5-7.0-6.6
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.32.93.43.63.13.03.43.94.34.04.8
 
Demand Conditions
Retail Sales7.65.46.79.69.55.77.14.19.77.65.2
Consumer Confidence73.974.575.076.778.079.280.079.379.980.980.1
Motor Vehicle Sales5.77.56.821.913.120.620.116.210.312.125.2
Visitor Arrivals11.94.78.75.720.923.215.510.919.316.39.4
Government disbursement (ytd)0.1-1.5-0.9-0.619.21.439.429.824.717.415.3
FDI Approved ytd-68.4-47.1-50.28.0-31.6-24.4-31.7-27.538.9-27.2-7.3
Private Investment Index1.71.41.32.54.21.70.12.82.9-0.47.0
Capital Goods Imports5.15.61.77.50.95.7-0.922.3-5.4-8.4-4.7
Exports3.63.910.98.27.64.7-0.35.0-3.2-4.84.1
 
Supply Conditions
VAPI-1.10.0-1.81.6-0.33.44.24.6-0.34.12.3
Thai Industry Sentiment (Index)84.783.985.086.785.987.089.191.089.990.789.1
Electricity Production2.91.72.55.30.2-0.4-0.13.20.90.1-1.1
Cement Consumption-4.9-10.6-3.8-3.62.72.8-5.41.1-4.7-3.4-2.5
Port Cargo Handled4.810.13.68.71.80.45.93.82.70.78.2
 
Domestic Stability
CPI Inflation0.20.30.90.91.00.80.70.40.81.11.5
Policy rate (%)1.501.501.501.501.501.501.501.501.501.501.50
Real Interbank rate (%)1.01.01.00.90.90.91.01.11.11.00.9
Broad Money4.44.44.74.84.24.65.05.15.06.15.3
Credit Growth2.64.35.95.86.66.28.17.08.510.58.3
Non-performing Loans (%)2.32.72.95.23.92.92.42.32.32.72.9
Unemployment Rate (%)1.21.11.21.31.11.01.31.31.21.11.0
 
External Resilience
Current Account (% GDP)7.28.09.810.912.011.711.110.610.810.610.6
Trade bal (3m rolling, USD bn)6.46.57.710.110.410.46.56.25.26.65.5
3m % chg in FX reserves3.26.97.45.33.11.67.14.86.40.2-0.1
3m % chg in FX rate (vs. USD)2.13.52.51.51.11.64.14.34.21.8-1.5
Import cover (no. of months)11.711.812.112.212.112.112.012.512.212.312.0
REER3.73.74.04.04.94.43.23.03.13.84.0
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP (ytd)6.56.75.55.56.06.25.15.76.46.87.4
 
Demand Conditions
Retail Sales (ytd)10.010.310.510.710.710.99.510.19.99.910.1
Visitor Arrivals (ytd)30.431.330.029.727.829.142.029.730.929.527.6
Government disbursement (ytd)8.89.36.76.05.67.211.29.28.88.35.8
Foreign Direct Investment (ytd)48.737.430.432.952.040.1-64.4-31.4-27.3-27.2-16.8
State Investment (ytd)6.76.87.07.47.88.116.08.69.78.57.5
Capital Goods Imports (Proxy)22.59.715.54.45.6-3.830.1-17.8-11.9-25.5-6.1
Exports19.223.125.632.324.419.240.28.622.34.511.3
 
Supply Conditions
Industrial Production (IPI)16.35.97.47.58.98.18.413.217.017.211.2
IPI: Electricity16.411.37.26.911.912.29.610.412.013.09.0
Freight Carried14.213.913.713.513.313.19.911.211.8302.712.6
 
Domestic Stability
CPI Inflation2.53.43.43.02.62.62.73.22.72.83.9
Policy rate (%)4.254.254.254.254.254.254.254.254.254.254.25
Real Interbank rate (%)-0.6-0.8-0.5-0.61.11.30.70.0-0.1-0.3-0.3
Broad Money (M2)17.216.814.917.319.119.817.916.614.414.014.3
Unemployment Rate (%)2.42.32.32.32.32.32.32.32.32.22.2
 
External Resilience
Current Account (% GDP)-0.8-0.10.57.85.45.84.0-2.8-1.02.12.7
Trade bal (3m rolling, USD bn)-0.81.42.84.63.62.20.30.12.73.72.5
3m % chg in FX reserves1.0-17.7-7.811.910.67.5-3.03.63.65.518.5
3m % chg in FX rate (vs. USD)-0.5-0.3-0.1-0.10.00.00.20.1-0.1-0.3-0.6
Import cover (no. of months)2.52.42.42.42.42.52.52.52.82.93.1
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.12.31.91.11.82.23.34.33.93.73.4
 
Demand Conditions
Retail Sales (Vol)0.54.63.15.53.56.94.42.428.310.011.0
Consumer Confidence76.477.975.374.673.269.274.777.782.480.682.1
Retail Sales (Motor Vehicle, Vol)6.6-2.05.410.9-0.72.3-0.522.414.7-4.315.4
Visitor Arrivals-1.92.4-1.24.86.67.04.7-2.626.38.911.0
Government disbursement (ytd)1.11.01.51.8-1.5-0.30.51.02.01.99.8
Foreign Direct Investment129.7-70.8-2.0-74.7-58.1253.837.065.846.2-79.16.2
Capital Goods Imports9.65.15.35.62.37.55.422.0-5.63.58.9
Domestic Exports2.4-5.3-2.76.53.21.20.15.2-16.2-0.613.9
 
Supply Conditions
Industrial Production-1.2-2.0-1.3-0.2-0.4-0.1-0.90.20.40.40.7
Business Situation (Index)-1.0-11.0-4.0-6.02.0-1.05.06.05.02.08.0
Electricity Production7.2-7.2-10.8-0.3-1.9-0.46.0-2.8-14.35.4-1.3
Cargo Handled9.08.26.72.07.510.44.41.813.1-13.1-2.5
 
Domestic Stability
CPI Inflation1.92.01.91.41.51.61.71.73.12.61.9
Policy rate (%)1.501.501.501.501.501.751.751.752.002.002.00
Real Interbank rate (%)-0.9-0.9-0.7-0.6-0.4-0.2-0.2-0.3-0.7-0.7-0.4
Broad Money (M2)12.912.210.88.812.19.110.011.09.47.89.8
Credit Growth14.916.015.715.721.416.616.116.415.715.017.1
Non-performing Loans (%)0.70.91.21.60.80.70.60.50.50.7
Unemployment Rate (%)3.13.13.23.33.33.33.43.53.53.43.3
 
External Resilience
Current Account (% GDP)2.73.23.34.34.74.24.03.73.94.74.3
Trade bal (3m rolling, USD bn)-15.2-14.6-14.5-14.1-15.9-16.4-18.4-16.8-17.2-16.6-18.5
3m % chg in FX reserves3.32.82.81.42.02.95.35.12.0-1.6-2.6
3m % chg in FX rate (vs. USD)-0.5-0.5-0.20.00.20.0-0.2-0.2-0.4-0.4-0.3
Import cover (no. of months)8.99.09.09.09.19.29.19.29.19.19.3
REER1.30.1-0.5-1.8-1.9-3.8-5.9-7.4-6.3-6.5-5.6
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.03.23.03.52.72.62.92.83.82.82.8
 
Demand Conditions
Retail Sales (Real)0.51.22.61.41.13.60.98.4-0.26.52.2
Consumer Sentiment Index110.9109.6107.4108.9112.0110.6109.9108.2108.1107.1107.9
Motor Vehicle Sales4.917.534.3-16.5-6.9-32.86.1-16.1-8.9-5.8-1.9
Visitor Arrivals-36.2-40.8-33.7-29.2-26.6-16.5-15.6-21.7-16.510.723.8
Government disbursement (ytd)6.25.98.66.86.06.87.211.611.85.710.6
Foreign Direct Investment-1.982.519.218.82.1-18.2-9.1-9.1-11.249.828.1
Index of Equipment Investment18.724.912.525.0-3.96.72.521.59.5-0.10.6
Capital Goods Imports23.419.315.127.34.913.89.922.412.54.68.5
Exports19.417.434.96.79.78.822.33.36.0-1.513.5
 
Supply Conditions
Industrial Production (IPI)6.73.31.90.3-0.4-0.32.38.7-6.3-1.7-6.0
Purchasing Manager (Index)49.049.248.449.449.250.149.149.950.650.251.2
Business Conditions (Index)96.092.994.794.293.895.998.293.393.891.292.0
IPI: Electricity3.73.92.74.84.710.51.01.05.69.38.7
Cargo Handled1.310.75.17.42.4-5.13.91.9-5.60.4-8.1
 
Domestic Stability
CPI Inflation2.22.62.11.81.31.51.01.41.31.61.5
Policy rate (%)1.251.251.251.251.501.501.501.501.501.501.50
Real Interbank rate (%)-0.3-0.5-0.6-0.5-0.3-0.2-0.2-0.2-0.1-0.10.0
Broad Money (M2)5.44.54.35.54.64.95.16.45.96.05.6
Credit Growth4.84.74.74.84.94.95.65.85.96.36.2
Non-performing Loans (%)0.50.60.60.60.60.60.6
Unemployment Rate (%)3.83.53.73.73.63.73.73.63.64.03.8
 
External Resilience
Current Account (% GDP)7.67.78.08.07.47.06.35.55.65.14.5
Trade bal (3m rolling, USD bn)26.627.530.226.928.020.116.711.913.116.120.0
3m % chg in FX reserves1.91.71.10.20.61.22.91.91.90.71.1
3m % chg in FX rate (vs. USD)0.2-0.5-0.10.12.74.35.81.91.2-0.20.2
Import cover (no. of months)10.210.19.99.89.89.89.89.69.69.69.5
REER4.92.0-0.9-2.6-1.12.43.63.0-1.4-1.30.2
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.11.31.91.91.23.72.52.85.53.64.4
 
Demand Conditions
Retail Sales (constant)-2.72.52.10.71.61.13.1-1.5-1.54.03.7
Motor Vehicle Registrations9.08.3-25.6-8.32.549.2-26.0-15.3-18.82.6-11.9
Visitor Arrivals0.59.20.65.215.413.313.04.25.49.56.6
Government disbursement (ytd)11.011.633.929.621.819.2-7.5-3.9-2.2-1.88.3
Foreign Direct Investment41.7-5.517.7-0.5-5.817.829.6-49.2-19.4-7.2-30.0
Net Invest Commit (Manuf)104.0-75.5-10.6-53.3-40.337.3-44.6165.0-70.835.7-74.8
Capital Goods Imports (Proxy)13.818.89.89.411.912.72.4-1.22.23.913.1
NODX8.77.616.7-1.120.59.13.112.9-6.0-3.211.8
 
Supply Conditions
Industrial Pdn (Excl. Biomed Mfg)13.725.518.215.825.914.36.319.89.68.99.3
Purchasing Manager (Index)51.051.852.052.652.952.853.152.753.052.952.7
Business Expectations (Index)-11.0-31.03.0-9.07.0-4.016.09.06.010.024.0
Electricity Production2.93.61.70.51.51.00.40.30.83.14.7
Cement Demand6.9-1.7-14.2-3.8-26.3-13.4-14.9-17.2-2.2-9.4-6.2
Sea Cargo Handled4.26.710.48.36.03.54.21.31.3-1.8-1.8
 
Domestic Stability
CPI Inflation0.50.60.40.40.40.60.40.00.50.20.1
Policy rate (3m SIBOR, %)1.121.121.121.131.201.501.131.371.451.511.51
Real Interbank rate (%)0.80.80.70.70.60.60.90.60.91.01.1
Broad Money (M2)7.36.76.05.44.63.23.23.43.62.73.2
Credit Growth7.65.95.16.26.87.15.65.43.75.45.7
Non-performing Loans (%)0.91.11.42.01.41.11.00.90.80.91.1
Res Unemployment Rate (%)2.92.82.73.02.93.23.23.13.13.02.8
 
External Resilience
Current Account (% GDP)16.318.018.920.520.219.419.017.819.420.419.8
Trade bal (3m rolling, USD bn)11.911.912.712.511.510.59.810.810.912.012.3
3m % chg in FX reserves3.53.23.42.32.41.62.31.12.61.91.8
3m % chg in FX rate (vs. USD)2.02.52.50.80.40.22.82.62.30.4-1.5
Import cover (no. of months)10.410.410.410.410.310.310.210.210.210.310.1
REER-2.5-2.3-2.3-1.5-0.5-0.1-0.4-0.7-1.1-1.5-1.3
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP-0.6-0.5-0.31.02.02.82.62.33.23.43.0
 
Demand Conditions
Retail Sales-2.9-2.33.32.83.23.62.3-5.013.23.51.6
Consumer Confidence78.280.082.283.386.286.187.787.487.986.985.6
Motor Vehicle Sales-11.422.95.3-4.714.6-5.2-6.8-19.5-2.4-19.55.3
Visitor Arrivals2.2-1.95.36.29.613.77.25.88.09.4-4.7
Government disbursement (ytd)0.22.11.62.92.40.80.3-26.3-4.5-1.90.4
Foreign Investment Approved18.611.9-17.5-90.874.564.7247.3-0.4342.486.9-38.8
Capital Goods Imports5.02.09.71.48.71.122.32.07.17.54.6
Exports6.27.722.0-1.08.57.87.3-7.010.75.612.6
 
Supply Conditions
Industrial Production0.83.31.93.15.02.71.41.410.7-2.23.1
Purchasing Manager (Index)58.757.659.058.858.757.757.258.059.050.463.6
Mfg Sentiment (Index)96.6100.6102.2101.7100.699.998.8100.298.2100.098.3
Electricity Consumption0.3-0.90.51.44.55.03.70.54.6-2.33.6
Cargo Handled-0.2-5.5-1.83.1-11.4-5.2-5.20.3-5.4-2.60.4
 
Domestic Stability
CPI Inflation0.91.11.00.91.51.71.81.41.71.81.5
Policy rate (%)1.3751.3751.3751.3751.3751.3751.3751.3751.3751.3751.375
Real Interbank rate (%)-0.4-0.4-0.4-0.4-0.4-0.4-0.5-0.5-0.5-0.6-0.7
Broad Money (M2)3.63.33.73.63.84.03.63.23.63.53.5
Credit Growth4.85.15.04.94.95.04.44.24.55.04.7
Non-performing Loans (%)1.81.51.10.60.40.40.40.20.20.30.3
Unemployment Rate (%)3.773.763.753.703.703.703.703.683.703.673.69
 
External Resilience
Current Account (% GDP)14.114.215.414.313.613.713.212.913.614.513.5
Trade bal (3m rolling, USD bn)8.510.511.011.111.110.58.05.85.76.87.4
3m % chg in FX reserves1.41.41.20.80.91.01.81.41.30.30.1
3m % chg in FX rate (vs. USD)-0.1-0.30.40.50.50.62.82.82.50.1-2.1
Import cover (no. of months)21.421.421.121.121.121.020.820.820.720.620.4
REER8.16.04.43.02.11.61.10.1-0.8-1.9-2.0

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