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 18-Oct-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 GDP6.25.05.04.75.52.37.00.51.80.12.4
 
Demand Conditions
Retail Sales7.8NA2.17.5-17.91.311.6-25.44.1-4.20.0
Consumer Confidence122.4NA121.8NA4.672.2NA#N/A96.9NA80.9
Motor Vehicle Sales-14.3-2.5-0.443.02.3-6.9NA-16.2-2.2-9.733.5
Visitor Arrivals11.31.62.94.829.67.410.8-39.114.03.18.1
Government disbursement (ytd)52.19.86.55.90.93.06.61.512.54.03.8
Foreign Direct Investment1.428.1-2.1-24.060.2-8.4-22.3-226.24.857.1359.7
Domestic Investment-4.6NA18.763.6-6.7-5.04.4NA-11.5-29.6NA
Capital Goods Imports-5.311.38.9-15.2-9.8-14.810.6-14.0-0.1-8.018.6
Exports-3.8-6.6-5.7-0.80.6-8.810.74.2-11.7-8.1-3.2
 
Supply Conditions
Industrial Production5.4-1.114.71.9-9.2-4.410.41.40.2-12.42.3
Purchasing Manager (Index)49.5#N/A49.147.951.850.650.541.548.049.550.0
Business Confidence (Index)123.270.0108.894.237.392.8NA-25.088.9-14.096.1
Electricity Production-7.7-0.96.82.15.71.610.6-5.1-3.82.4-0.4
Cement ProductionNANA-0.5NANA-2.5NANANA5.5NA
Cargo Handled5.4-6.62.9#N/A1.41.42.85.97.3-2.1-1.8
 
Domestic Stability
CPI Inflation3.00.33.41.50.90.32.03.5-0.40.50.5
Policy rate (%)4.355.405.503.004.001.504.002.251.501.881.375
Real Interbank rate (%)0.33.32.83.0-0.50.82.2-0.40.81.30.1
Broad Money (M2)8.49.77.34.16.24.510.53.37.84.43.5
Credit Growth12.511.78.73.910.52.0NA5.15.82.24.9
Non-performing Loans (%)1.710.02.61.51.63.1NA0.70.51.40.2
Unemployment Rate (%)3.6NA5.03.35.41.02.23.03.43.13.7
 
External Resilience
Current Account (% GDP)1.3-2.02.1-2.05.71.75.64.118.412.1
Trade bal (3m rolling, USD bn)119.1-37.8-0.18.6-8.29.75.1-14.79.98.46.6
3m % chg in FX reserves-0.90.90.40.30.82.23.1-1.60.1-0.60.5
3m % chg in FX rate (vs. USD)-3.1-2.80.8-0.5-0.61.7-0.4-0.1-1.7-1.20.7
Import cover (no. of months)18.110.58.56.09.311.93.29.09.49.020.0
REER-0.55.99.00.35.16.7NA3.4-6.8-0.3-0.7
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.86.86.86.86.86.86.76.66.46.36.2
 
Demand Conditions
Retail Sales9.28.68.18.28.77.28.69.87.67.57.8
Consumer Confidence Index119.1122.1123.0123.7126.0124.1125.3123.4125.9124.4122.4
Motor Vehicle Sales12.57.7-4.36.06.14.614.50.1-4.7-16.6-14.3
Visitor Arrivals-17.02.05.01.413.5-4.8-12.9-2.14.91.011.3
Government disbursement (ytd)7.57.66.88.6448.4202.6106.5106.781.748.252.1
FDI Utilized -4.5-6.43.014.52.16.212.1-8.83.73.31.4
FAI (ytd)5.90.60.50.51.10.90.70.6-1.9-3.5-4.6
Capital Goods Imports (Proxy)16.3-5.8-16.4-7.4-12.1-7.6-3.0-11.4-7.5-8.8-5.3
Exports4.6-4.68.5-21.214.1-3.30.5-1.72.8-1.2-3.8
 
Supply Conditions
Industrial Production (IMF)15.4-2.16.07.06.86.06.06.15.84.25.4
Purchasing Manager (Index)50.250.049.449.549.250.550.149.449.449.749.5
Business Climate (Index)113.5123.4123.1123.5123.4126.6124.5122.7120.2126.6123.2
Electricity Production-9.3-10.36.223.19.7-4.55.814.220.820.4-7.7
Freight Carried9.56.58.96.90.98.66.15.65.56.85.4
 
Domestic Stability
CPI Inflation2.21.91.71.52.32.52.72.72.82.83.0
Policy rate (%)4.354.354.354.354.354.354.354.354.354.354.35
Real Interbank rate (%)1.01.20.80.70.80.80.70.50.30.40.3
Broad Money (M2)8.08.18.48.08.68.58.58.58.18.28.4
Credit Growth13.113.513.413.413.713.413.313.012.612.412.5
Non-performing Loans (%)1.11.01.01.01.21.71.71.7
Unemployment Rate (%)4.023.973.953.953.903.893.833.823.803.673.61
 
External Resilience
Current Account (% GDP)1.71.53.01.42.10.81.41.0-0.40.61.3
Trade bal (3m rolling, USD bn)111.3136.7140.9100.375.950.688.2106.5137.2130.4119.1
3m % chg in FX reserves-1.5-0.51.10.90.80.20.40.70.30.2-0.9
3m % chg in FX rate (vs. USD)-1.3-0.41.92.92.51.0-1.7-2.8-2.4-3.1-3.1
Import cover (no. of months)17.117.317.417.517.617.517.717.917.918.018.1
REER-1.6-0.9-1.0-1.30.0-0.5-2.5-3.30.20.0-0.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP7.57.06.06.87.78.18.07.06.65.85.0
 
Demand Conditions
Motor Vehicle Sales-9.7-28.6-21.2-16.4-4.220.45.0-0.5-2.1-6.6-2.5
Visitor Arrivals1.71.42.05.33.7-4.83.50.75.41.41.6
Government disbursement (ytd)12.79.17.88.89.57.914.08.52.06.59.8
Foreign Direct Investment11.0-27.737.16.5-25.516.822.5-33.72.322.028.1
Capital Goods Imports20.526.4-3.5-9.24.13.65.316.311.3
Exports-0.70.33.93.212.20.23.5-7.92.0-6.0-6.6
 
Supply Conditions
Industrial Production (IPI)8.40.22.51.60.22.73.24.51.24.6-1.1
Purchasing Manager (Index)50.049.449.549.250.550.149.449.449.749.5#N/A
Business Expectations (Index)65.463.772.176.791.085.081.079.573.878.070.0
IPI: Electricity10.85.14.50.91.32.26.07.48.24.8-0.9
Railway Traffic5.13.32.84.36.63.22.92.01.6-6.1-6.6
 
Domestic Stability
WPI Inflation4.53.52.82.93.13.22.82.01.21.10.3
Policy rate (%)6.506.506.506.506.256.256.006.005.755.755.40
Real Interbank rate (%)3.33.53.94.04.43.83.83.83.73.33.3
Broad Money (M3)10.410.210.410.810.510.010.310.110.69.89.7
Credit Growth7.05.48.06.510.79.511.113.112.913.111.7
Non-performing Loans (%)2.42.73.44.04.35.99.210.0
 
External Resilience
Current Account (% GDP)-0.5-0.6-1.2-1.3-1.5-1.8-1.8-2.3-2.4-2.1-2.0
Trade bal (3m rolling, USD bn)-50.6-50.2-47.2-39.3-35.7-36.1-41.8-46.2-44.3-42.2-37.8
3m % chg in FX reserves-1.6-1.22.12.24.44.64.84.12.41.50.9
3m % chg in FX rate (vs. USD)-3.02.03.90.81.91.82.00.11.0-2.0-2.8
Import cover (no. of months)9.29.29.39.49.69.79.810.110.110.210.5
REER-6.5-5.6-5.2-3.50.11.12.42.13.11.45.9
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP4.95.05.05.15.25.15.35.25.25.15.0
 
Demand Conditions
Retail Sales3.47.77.29.110.16.77.7-1.82.41.12.1
Consumer Confidence122.7127.0125.5125.1124.5128.1128.2126.4124.8123.1121.8
Motor Vehicle Sales4.83.3-14.5-13.5-11.4-18.0-16.51.1-17.0-11.5-0.4
Visitor Arrivals11.49.022.510.25.3-1.7-0.41.39.9-4.12.9
Government disbursement (ytd)11.911.09.911.09.37.88.49.89.68.06.5
Investment Realisation: Foreign-5.55.415.412.711.411.5-13.5-20.2-11.6-11.5-2.1
Investment Realisation: Dom25.836.616.916.816.411.032.130.528.514.218.7
Capital Goods Imports-1.9-0.5-5.0-0.8-7.9-7.9-15.43.3-3.5-5.88.9
Exports-2.8-3.6-4.4-11.2-9.0-9.5-8.5-8.9-5.1-10.0-5.7
 
Supply Conditions
Industrial Production8.66.05.84.90.67.93.24.03.68.914.7
Purchasing Manager (Index)50.451.249.950.151.250.451.650.849.649.049.1
Business Tendancy (Index)106.7103.4111.6112.4111.0106.3112.8108.1104.7102.1108.8
Electricity Sales10.47.014.29.612.321.121.612.42.015.26.8
Cement Consumption2.64.9-1.32.2-0.6-8.7-9.012.7-1.6-3.2-0.5
Port Cargo Handled-21.5-2.5-14.9-9.140.740.627.958.66.2-6.92.9
 
Domestic Stability
CPI Inflation3.23.12.82.62.52.83.33.33.33.53.4
Policy rate (%)4.254.254.254.254.254.254.254.755.255.255.50
Real Interbank rate (%)4.44.54.24.24.24.24.23.93.33.12.8
Broad Money (M2)7.36.66.35.56.06.56.27.86.87.97.3
Credit Growth13.111.911.711.912.011.511.111.19.99.78.7
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)-1.2-1.6-1.9-2.2-2.6-3.0-3.1-3.1-3.1
Trade bal (3m rolling, USD bn)-3.4-4.8-4.1-1.8-0.1-1.3-1.4-1.80.50.3-0.1
3m % chg in FX reserves-0.65.14.35.23.23.5-2.4-0.61.35.10.4
3m % chg in FX rate (vs. USD)-0.92.56.74.52.00.1-2.5-0.10.71.00.8
Import cover (no. of months)7.57.77.67.98.18.18.08.28.48.68.5
REER-3.6-2.0-0.13.03.04.03.43.05.35.79.0
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 Sales9.110.113.512.210.49.29.812.912.18.67.5
Motor Vehicle Sales-1.8-11.98.7-1.89.66.241.4-34.0-25.7-22.043.0
Visitor Arrivals0.21.7-0.9-3.4-3.65.66.510.36.15.54.8
Government disbursement (ytd)-3.10.31.5-0.53.6-4.66.08.56.18.35.9
Foreign Direct Investment23.55.2-0.747.7-11.2-1.020.4-41.55.612.0-24.0
Manuf Investment Approved-21.7-28.6-13.4-14.18.997.519.269.037.2103.063.6
Capital Goods Imports3.8-5.61.5-1.0-6.9-3.2-2.1-1.9-12.6-10.0-15.2
Exports18.72.26.22.7-5.6-1.00.61.5-3.31.6-0.8
 
Supply Conditions
Industrial Production4.02.13.43.21.73.14.04.03.81.21.9
Purchasing Manager (Index)48.246.847.947.647.249.448.847.847.447.647.9
Business Conditions (Index)81.2112.7114.1103.1101.598.6116.3108.895.394.394.2
Electricity Production3.52.83.42.97.74.74.76.05.81.82.1
 
Domestic Stability
CPI Inflation0.60.20.2-0.7-0.40.20.20.21.51.41.5
Policy rate (%)3.253.253.253.253.253.253.003.003.003.003.00
Real Interbank rate (%)2.22.42.73.03.23.23.33.23.23.13.0
Broad Money (M2)8.38.58.97.87.15.95.25.65.04.74.1
Credit Growth8.18.37.77.57.07.04.54.54.23.93.9
Non-performing Loans (%)6.54.83.63.42.72.01.81.61.61.61.5
Unemployment Rate (%)3.33.33.33.33.33.43.43.33.33.33.3
 
External Resilience
Current Account (% GDP)2.12.32.42.32.83.02.83.42.82.22.1
Trade bal (3m rolling, USD bn)8.29.88.77.58.19.08.98.37.38.28.6
3m % chg in FX reserves-2.3-1.50.40.31.51.3-0.1-0.30.51.20.3
3m % chg in FX rate (vs. USD)-2.2-0.71.02.52.20.1-2.2-2.0-0.2-0.5-0.5
Import cover (no. of months)5.65.65.65.65.75.85.85.75.85.96.0
REER1.0-0.5-1.9-1.1-0.9-2.4-2.5-1.4-1.2-1.00.3
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.76.46.67.26.66.56.26.06.35.65.5
 
Demand Conditions
Domestic Trade45.6-28.58.83.3-2.96.125.310.60.3-0.6-17.9
Consumer Exp (Current)8.713.110.29.51.73.8-7.1-22.5-0.5-1.34.6
Motor Vehicle Sales-23.4-29.8-15.017.128.60.89.719.623.17.82.3
Visitor Arrivals-1.04.812.1-1.213.811.112.215.621.819.629.6
Government disbursement (ytd)24.824.120.7-7.26.90.8-3.2-0.8-0.8-0.10.9
Foreign Direct Investment-9.3-12.8-55.061.2-82.8-37.970.4-0.9321.2223.660.2
Investment Approved-17.321.829.7105.12.852.4-50.2-34.7114.248.1-6.7
Capital Goods Imports19.34.8-6.28.911.614.50.10.8-3.43.2-9.8
Exports6.71.0-12.2-6.7-0.1-1.81.01.03.33.50.6
 
Supply Indicators
Industrial Production (Volume)3.22.2-8.6-4.2-9.3-8.8-13.7-7.8-9.4-6.1-9.2
Purchasing Manager (Index)54.253.252.351.951.550.951.251.352.151.951.8
Business Outlook (Index)39.443.037.943.339.539.330.127.235.240.537.3
Electricity Production2.01.89.42.15.43.22.76.710.23.95.7
Port Cargo Handled7.16.91.31.77.1-0.23.90.8-0.46.71.4
 
Supply Conditions
CPI Inflation6.05.14.43.83.33.03.22.72.41.70.9
Policy rate (%)4.754.754.754.754.754.754.504.504.504.254.00
Real Interbank rate (%)0.20.10.20.30.60.50.3-0.1-0.6-0.8-0.5
Broad Money (M3)8.58.79.57.97.36.17.06.46.56.76.2
Credit Growth18.515.614.613.113.311.512.810.610.511.610.5
Non-performing Loans (%)3.53.42.62.22.42.01.91.71.6
Unemployment Rate (%)6.65.75.65.05.35.55.45.15.25.15.4
 
External Resilience
Current Account (% GDP)-0.4-0.9-0.6-0.1-0.7-0.5-1.5-2.6-2.6-2.9-2.0
Trade bal (3m rolling, USD bn)-12.0-12.5-12.7-12.2-10.8-9.8-9.3-9.9-9.1-9.1-8.2
3m % chg in FX reserves-2.95.710.49.45.61.73.11.61.50.80.8
3m % chg in FX rate (vs. USD)0.92.22.91.20.70.7-0.11.21.90.4-0.6
Import cover (no. of months)8.08.08.48.78.88.88.89.09.19.19.3
REER3.31.53.06.76.06.45.56.36.03.45.1
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.13.54.24.54.05.04.73.23.62.82.3
 
Demand Conditions
Retail Sales10.320.313.310.69.77.79.213.59.96.71.3
Consumer Confidence80.579.480.782.080.679.277.776.475.073.672.2
Motor Vehicle Sales26.821.28.917.39.18.58.73.7-2.1-1.1-6.9
Visitor Arrivals-0.84.37.45.31.5-0.63.2-0.41.34.77.4
Government disbursement (ytd)8.24.40.96.88.28.09.57.44.44.13.0
FDI Approved ytd-26.9-7.6-8.3-33.4-36.011.81.46.310.741.8-8.4
Private Investment Index4.93.5-0.41.2-2.8-1.4-1.8-1.8-6.00.1-5.0
Capital Goods Imports-0.23.9-2.2-2.9-21.5-3.13.6-4.4-12.06.7-14.8
Exports7.20.6-1.0-5.3-2.7-3.4-1.4-7.7-6.2-3.9-8.8
 
Supply Conditions
VAPI5.70.81.20.6-1.3-2.71.5-3.4-5.3-3.3-4.4
Purchasing Manager (Index)49.850.350.249.950.351.050.750.650.350.050.6
Thai Industry Sentiment (Index)92.693.993.293.895.696.395.095.994.593.592.8
Electricity Production4.43.96.92.37.54.811.28.44.94.11.6
Cement Consumption-4.9-10.6-3.8-3.62.72.8-5.41.1-4.7-3.4-2.5
Port Cargo Handled4.24.25.2-3.65.510.60.50.52.9-2.41.4
 
Domestic Stability
CPI Inflation0.90.40.30.71.21.21.10.91.00.50.3
Policy rate (%)1.501.751.751.751.751.751.751.751.751.501.50
Real Interbank rate (%)0.50.80.80.80.80.80.80.80.90.70.8
Broad Money5.34.74.74.34.83.84.13.83.33.74.5
Credit Growth3.51.82.61.10.01.80.60.31.12.32.0
Non-performing Loans (%)7.65.65.23.92.92.42.32.32.73.03.1
Unemployment Rate (%)1.00.91.00.80.91.01.10.91.11.01.0
 
External Resilience
Current Account (% GDP)10.59.99.49.79.69.38.66.55.65.35.7
Trade bal (3m rolling, USD bn)4.24.24.63.05.66.56.74.75.77.59.7
3m % chg in FX reserves-0.70.64.04.63.20.3-1.21.73.74.92.2
3m % chg in FX rate (vs. USD)0.2-0.43.04.93.0-0.2-1.52.03.33.31.7
Import cover (no. of months)10.610.610.811.011.211.211.111.111.511.611.9
REER2.11.93.45.03.63.04.16.08.47.86.7
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP (ytd)5.15.76.46.87.47.17.07.16.86.87.0
 
Demand Conditions
Retail Sales (ytd)11.511.712.212.212.011.911.611.511.611.511.6
Visitor Arrivals (ytd)21.319.95.08.07.07.68.87.57.98.710.8
Government disbursement (ytd)11.29.28.88.35.85.66.58.55.65.46.6
Foreign Direct Investment (ytd)-20.3-15.581.975.780.150.438.7-37.2-37.4-32.3-22.3
State Investment (ytd)12.311.93.94.33.13.63.43.13.03.44.4
Capital Goods Imports (Proxy)3.8-0.218.89.114.224.68.93.29.115.210.6
Exports8.70.39.4-3.57.010.39.47.411.110.410.7
 
Supply Conditions
Industrial Production (IPI)9.711.48.110.19.29.310.29.09.810.510.4
Purchasing Manager (Index)56.553.851.951.251.952.552.052.552.651.450.5
IPI: Electricity9.511.78.310.29.612.410.37.510.59.910.6
Freight Carried13.513.310.56.85.34.33.83.43.12.92.8
 
Domestic Stability
CPI Inflation3.53.02.62.62.72.92.92.22.42.32.0
Policy rate (%)4.254.254.254.254.254.254.254.254.254.254.00
Real Interbank rate (%)1.92.11.91.01.00.70.91.11.61.92.2
Broad Money (M2)17.916.614.414.014.315.416.113.112.710.910.5
Unemployment Rate (%)2.32.32.22.22.22.22.22.22.22.22.2
 
External Resilience
Current Account (% GDP)0.3-8.3-5.4-1.8-0.76.63.54.02.44.01.7
Trade bal (3m rolling, USD bn)2.70.30.1-0.91.50.3-0.10.30.85.45.1
3m % chg in FX reserves-3.03.63.65.518.514.52.6-1.3-2.712.43.1
3m % chg in FX rate (vs. USD)-0.2-0.4-0.6-0.8-0.7-0.6-0.7-0.5-0.3-0.3-0.4
Import cover (no. of months)3.02.82.82.83.03.13.13.23.13.23.2
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.44.44.03.63.54.63.62.81.20.60.5
 
Demand Conditions
Retail Sales (Vol)5.31.30.16.9-10.6-0.8-4.9-1.8-7.6-13.1-25.4
Retail Sales (Motor Vehicle, Vol)13.47.08.77.8-3.51.6-6.3-0.2-8.4-5.4-16.2
Visitor Arrivals11.520.617.927.25.817.35.219.58.5-4.8-39.1
Government disbursement (ytd)12.912.011.710.910.512.99.29.4-2.90.01.5
Foreign Direct Investment37.039.666.9-64.7-3.1-17.2-63.149.1-38.620.1-226.2
Capital Goods Imports22.11.2-1.80.0-2.22.5-2.6-5.3-12.3-8.1-14.0
Domestic Exports16.513.11.522.111.49.6-3.7-2.8-6.116.84.2
 
Supply Conditions
Industrial Production-0.1-0.90.20.40.40.71.01.61.11.21.4
Purchasing Manager (Index)47.148.048.248.448.048.446.947.943.840.841.5
Business Situation (Index)5.06.05.02.08.06.02.0-12.0-1.0-8.0-25.0
Electricity Production6.0-2.8-14.35.4-1.34.615.3-8.0-13.8-4.3-5.1
Cargo Handled-17.4-12.0-13.3-13.0-12.9-11.2-6.19.85.4-1.15.9
 
Domestic Stability
CPI Inflation2.72.62.52.42.12.12.92.83.33.33.5
Policy rate (%)2.502.752.752.752.752.752.752.752.752.502.25
Real Interbank rate (%)-0.1-0.3-0.1-0.7-0.8-0.6-0.4-0.4-0.1-0.4-0.4
Broad Money (M2)1.03.54.32.43.23.92.13.74.03.83.3
Credit Growth2.05.34.43.13.03.10.53.13.33.65.1
Non-performing Loans (%)1.21.60.80.70.60.50.50.70.90.7
Unemployment Rate (%)2.82.72.62.62.82.82.92.93.03.03.0
 
External Resilience
Current Account (% GDP)4.03.74.14.84.74.54.13.74.34.85.6
Trade bal (3m rolling, USD bn)-18.4-17.5-18.0-13.6-14.1-15.1-18.2-16.4-15.9-15.6-14.7
3m % chg in FX reserves-0.4-0.42.12.73.11.00.81.82.8-1.1-1.6
3m % chg in FX rate (vs. USD)0.30.20.0-0.2-0.40.00.00.30.40.1-0.1
Import cover (no. of months)8.48.48.58.68.78.88.88.99.19.29.0
REER3.74.35.35.65.56.25.14.53.03.43.4
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)5.11.03.14.3-1.92.51.43.41.2-0.34.1
Consumer Sentiment Index95.796.997.599.599.8101.697.997.595.992.596.9
Motor Vehicle Sales0.715.38.3-0.1-3.92.23.4-2.12.8-5.3-2.2
Visitor Arrivals31.123.516.815.615.012.422.820.015.115.414.0
Government disbursement (ytd)9.07.27.225.217.012.916.414.815.413.112.5
Foreign Direct Investment-9.0-9.1-11.249.827.988.5-13.6-17.8-35.7-38.14.8
Index of Equipment Investment-9.8-11.2-19.310.2-9.4-15.1-17.0-26.9-15.6-6.3-11.5
Capital Goods Imports-3.5-7.9-8.9-20.4-10.60.60.6-8.1-0.2-2.3-0.1
Exports3.6-1.7-6.2-11.3-8.4-2.1-9.8-13.8-11.1-13.9-11.7
 
Supply Conditions
Industrial Production (IPI)7.60.20.40.9-1.9-0.60.71.3-0.90.70.2
Purchasing Manager (Index)48.649.848.347.248.850.248.447.547.349.048.0
Business Conditions (Index)88.890.588.691.090.291.890.090.086.987.388.9
IPI: Electricity6.5-0.3-0.6-0.9-4.1-0.11.83.1-2.7-5.4-3.8
Cargo Handled12.05.33.77.00.86.3-1.0-8.51.0-2.17.3
 
Domestic Stability
CPI Inflation2.01.30.80.50.40.60.70.70.60.0-0.4
Policy rate (%)1.751.751.751.751.751.751.751.751.501.501.50
Real Interbank rate (%)0.40.40.40.50.50.60.60.60.40.50.8
Broad Money (M2)7.26.56.76.26.66.96.86.36.96.57.8
Credit Growth6.46.46.46.36.36.06.16.16.25.95.8
Non-performing Loans (%)0.60.60.60.50.60.60.50.50.5
Unemployment Rate (%)3.83.84.43.73.84.14.04.04.03.13.4
 
External Resilience
Current Account (% GDP)6.55.74.85.04.64.24.34.44.44.54.1
Trade bal (3m rolling, USD bn)20.715.29.98.19.011.710.99.88.37.99.9
3m % chg in FX reserves0.50.20.70.40.4-0.4-0.7-0.5-0.2-0.10.1
3m % chg in FX rate (vs. USD)-0.4-0.21.00.3-0.8-1.9-5.4-3.7-3.1-2.3-1.7
Import cover (no. of months)9.09.19.19.29.29.29.29.39.39.39.4
REER1.1-0.5-1.40.3-1.5-2.7-6.2-4.9-4.6-7.7-6.8
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.73.04.63.64.64.22.61.31.10.10.1
 
Demand Conditions
Retail Sales (constant)0.6-1.2-5.67.6-9.6-0.2-1.6-2.5-9.5-1.8-4.2
Motor Vehicle Registrations-11.9-33.848.0-4.03.4-1.1-15.0-41.232.5-14.2-9.7
Visitor Arrivals4.60.72.13.90.5-1.23.41.10.44.03.1
Government disbursement (ytd)19.2-7.5-3.9-2.2-1.88.41.65.25.010.44.0
Foreign Direct Investment11.691.4-24.357.026.3-45.7-2.910.2-16.077.457.1
Net Invest Commit (Manuf)37.3-44.6165.0-70.835.7-74.8-5.2-14.89.2822.5-29.6
Capital Goods Imports (Proxy)3.01.88.94.53.96.4-0.7-7.7-7.5-9.3-8.0
NODX-2.8-8.5-10.14.8-11.8-10.1-16.3-17.4-11.5-9.0-8.1
 
Supply Conditions
Industrial Pdn (Excl. Biomed Mfg)4.44.8-2.8-0.90.2-7.7-1.4-4.3-11.3-0.4-12.4
Purchasing Manager (Index)51.551.150.750.450.850.349.949.649.849.949.5
Business Expectations (Index)-4.016.09.06.010.024.05.02.0-2.01.0-14.0
Electricity Production0.70.51.05.72.81.52.62.0-0.21.72.4
Cement Demand-13.4-14.9-17.2-2.2-9.4-6.2-8.22.3-4.8-2.15.5
Sea Cargo Handled-2.5-0.3-2.4-2.1-3.34.54.63.0-0.3-6.9-2.1
 
Domestic Stability
CPI Inflation0.70.30.50.40.50.60.80.90.60.40.5
Policy rate (3m SIBOR, %)1.771.891.891.951.941.952.012.002.001.881.88
Real Interbank rate (%)1.21.31.41.51.51.51.41.41.41.41.3
Broad Money (M2)3.03.53.94.04.24.85.25.55.44.94.4
Credit Growth3.42.83.03.23.32.21.42.12.12.02.2
Non-performing Loans (%)1.42.01.41.11.00.90.80.91.21.4
Res Unemployment Rate (%)3.23.23.13.12.92.92.92.93.03.03.1
 
External Resilience
Current Account (% GDP)14.517.717.418.414.317.921.121.115.218.618.4
Trade bal (3m rolling, USD bn)9.16.65.55.77.97.88.06.97.27.38.4
3m % chg in FX reserves0.0-1.31.21.02.81.0-9.2-7.4-8.12.6-0.6
3m % chg in FX rate (vs. USD)-0.40.01.71.51.20.0-1.2-0.6-0.4-1.0-1.2
Import cover (no. of months)9.49.39.59.49.59.58.68.98.98.99.0
REER0.00.40.71.41.01.01.00.6-0.1-0.8-0.3
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.82.92.53.43.53.23.32.41.81.82.4
 
Demand Conditions
Retail Sales3.63.51.8-0.91.3-0.20.32.08.0-9.20.0
Consumer Confidence80.179.783.684.784.485.379.579.881.579.780.9
Motor Vehicle Sales-29.80.6-26.8-18.7-29.32.5-11.1-3.02.9-3.933.5
Visitor Arrivals3.50.51.2-0.512.46.524.723.58.815.98.1
Government disbursement (ytd)4.54.84.637.511.99.08.72.63.63.83.8
Foreign Investment Approved120.5-9.9109.1-6.8-76.0-52.2331.1232.1115.8-84.4359.7
Capital Goods Imports0.67.711.9-9.421.33.9-1.120.83.30.918.6
Exports-1.0-0.73.3-3.40.81.7-0.95.61.54.8-3.2
 
Supply Conditions
Industrial Production8.82.6-1.1-1.1-2.0-9.41.4-2.6-0.53.82.3
Purchasing Manager (Index)46.746.546.147.449.151.748.248.148.048.250.0
Mfg Sentiment (Index)88.585.686.089.791.295.994.694.693.195.096.1
Electricity Consumption-2.9-2.3-0.40.71.5-1.5-1.0-1.3-0.4-1.8-0.4
Cargo Handled7.16.4-0.51.9-4.21.81.7-2.9-2.6-1.9-1.8
 
Domestic Stability
CPI Inflation0.4-0.10.30.50.60.60.80.60.40.30.5
Policy rate (%)1.3751.3751.3751.3751.3751.3751.3751.3751.3751.3751.375
Real Interbank rate (%)-1.0-0.8-0.7-0.6-0.5-0.4-0.3-0.2-0.10.00.1
Broad Money (M2)3.03.22.73.43.03.33.63.13.43.33.5
Credit Growth4.75.25.26.15.54.64.84.64.35.24.9
Non-performing Loans (%)1.51.10.60.40.40.40.20.20.30.30.2
Unemployment Rate (%)3.703.693.703.723.713.723.733.753.743.723.73
 
External Resilience
Current Account (% GDP)13.514.113.513.114.514.813.511.612.211.912.1
Trade bal (3m rolling, USD bn)5.96.64.45.43.55.44.35.36.17.56.6
3m % chg in FX reserves0.30.30.60.60.50.40.10.60.50.80.5
3m % chg in FX rate (vs. USD)-0.3-0.20.20.0-0.2-0.1-1.4-1.4-0.7-0.50.7
Import cover (no. of months)19.519.519.419.819.719.719.719.719.919.920.0
REER-1.0-1.3-1.9-1.4-1.4-0.9-0.9-1.7-1.9-1.9-0.7

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