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 27-March-2020)
  • 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 GDP6.14.75.04.76.41.67.0-2.92.30.82.9
 
Demand Conditions
Retail Sales8.0NA-1.96.9-27.8-3.68.3-23.01.8-4.40.9
Consumer Confidence126.6NA117.7NA1.364.8NA#N/A96.9NA83.9
Motor Vehicle Sales-9.4-19.8-2.7-12.0-2.8-8.2NA-20.9-23.7-6.820.2
Visitor Arrivals11.31.35.9-4.813.02.54.8-52.715.23.9-6.3
Government disbursement (ytd)43.213.3-9.112.028.0-18.06.89.31.118.4
Foreign Direct Investment-7.4149.4-5.0-2.623.010.3104.7-13.127.935.5116.8
Domestic Investment-25.7NA18.5-2.4-31.9-8.117.5NA-3.8286.9NA
Capital Goods Imports22.611.3-16.4-9.01.7-2.115.1-21.512.015.942.0
Exports7.72.911.0-1.69.7-1.050.3-13.84.33.021.8
 
Supply Conditions
Industrial Production6.92.0-0.80.6-1.6-4.623.71.4-0.5-3.2-1.5
Purchasing Manager (Index)35.754.551.948.552.349.549.046.848.747.049.9
Business Confidence (Index)122.863.0104.888.340.290.2NA-22.083.11.094.2
Electricity Production22.83.16.80.95.75.722.54.3-5.6-0.1-4.2
Cement ProductionNANA-0.1NANA-2.5NANANA11.4NA
Cargo Handled5.66.50.9#N/A-3.0-76.37.02.8-5.8-1.0-9.3
 
Domestic Stability
CPI Inflation5.22.32.71.62.60.75.41.41.10.80.4
Policy rate (%)4.355.154.752.753.751.004.002.001.251.691.375
Real Interbank rate (%)-1.11.32.32.20.80.3-0.1-0.50.81.10.1
Broad Money (M2)8.810.27.13.811.43.712.22.37.75.84.6
Credit Growth12.17.45.73.512.43.313.66.46.33.04.6
Non-performing Loans (%)1.79.52.61.51.73.1NA0.50.41.30.2
Unemployment Rate (%)3.6NA5.33.25.31.12.23.43.33.23.7
 
External Resilience
Current Account (% GDP)0.6-0.9-2.72.1-1.16.91.76.03.616.310.9
Trade bal (3m rolling, USD bn)128.2-36.31.67.5-9.34.22.3-11.46.44.33.7
3m % chg in FX reserves0.45.93.00.21.63.87.62.70.42.51.2
3m % chg in FX rate (vs. USD)0.30.02.1-0.20.0-3.6-0.30.7-2.4-2.11.0
Import cover (no. of months)18.011.79.26.19.712.83.59.69.89.420.0
REER1.56.24.9-0.95.40.2NA1.7-5.7-2.41.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP7.07.06.96.96.96.86.76.46.36.26.1
 
Demand Conditions
Retail Sales8.28.77.28.69.87.67.57.87.28.08.0
Consumer Confidence Index126.0124.1125.3123.4125.9124.4122.4124.1124.3124.6126.6
Motor Vehicle Sales-4.36.06.14.614.50.1-4.7-16.6-14.3-11.6-9.4
Visitor Arrivals-17.02.05.01.413.5-4.8-12.9-2.14.91.011.3
Government disbursement (ytd)8.6448.4202.6106.5106.781.748.252.144.234.043.2
FDI Utilized -6.43.014.52.16.212.1-8.83.73.31.4-7.4
FAI (ytd)0.50.70.6-1.9-3.5-4.6-6.7-12.4-13.2-25.7-25.7
Capital Goods Imports (Proxy)-12.1-7.6-3.0-11.4-7.5-8.8-5.3-12.6-8.07.022.6
Exports-21.214.1-3.30.5-1.72.8-1.2-3.8-2.0-2.77.7
 
Supply Conditions
Industrial Production (IMF)15.4-2.16.07.06.86.06.06.15.84.25.4
Purchasing Manager (Index)50.149.449.449.749.549.849.350.250.250.035.7
Business Climate (Index)123.1123.5123.4126.6124.5122.7120.2126.6123.2123.4122.8
Electricity Production23.19.7-4.55.814.220.820.4-7.7-10.87.422.8
Freight Carried6.90.98.66.15.65.56.85.45.32.55.6
 
Domestic Stability
CPI Inflation2.32.72.72.82.83.03.84.54.55.45.2
Policy rate (%)4.354.354.354.354.354.354.354.354.354.354.35
Real Interbank rate (%)0.80.70.50.30.40.30.40.30.1-0.4-1.1
Broad Money (M2)8.68.58.58.18.28.48.48.28.78.48.8
Credit Growth13.713.313.012.612.412.512.412.412.312.112.1
Non-performing Loans (%)1.11.01.01.01.21.71.71.7
Unemployment Rate (%)3.953.953.903.893.833.823.803.673.613.613.62
 
External Resilience
Current Account (% GDP)1.53.01.42.10.81.40.9-0.40.61.30.6
Trade bal (3m rolling, USD bn)100.375.950.688.2106.5137.2130.4119.1117.5120.6128.2
3m % chg in FX reserves0.80.40.70.30.2-0.90.0-0.40.50.30.4
3m % chg in FX rate (vs. USD)1.0-1.7-2.8-2.4-3.1-3.1-3.20.61.42.50.3
Import cover (no. of months)17.517.617.517.717.917.918.018.118.318.218.0
REER0.0-2.5-3.30.20.0-0.40.72.20.92.21.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP5.86.57.68.27.16.25.65.75.65.14.7
 
Demand Conditions
Government disbursement (ytd)-4.25.0-0.5-2.1-6.6-2.57.3-1.6-19.0-11.8-19.8
Foreign Direct Investment-4.83.50.75.41.41.64.36.17.82.81.3
Capital Goods Imports20.526.4-3.5-9.24.13.65.316.311.3
Exports12.23.4-7.81.7-6.4-6.3-1.1-0.3-1.6-1.72.9
 
Supply Conditions
Industrial Production (IPI)0.23.24.51.34.9-1.4-4.6-6.61.80.12.0
Purchasing Manager (Index)50.149.449.449.749.549.849.350.250.250.035.7
Business Expectations (Index)63.776.791.085.081.079.573.878.070.056.463.0
IPI: Electricity1.36.07.48.65.2-0.9-2.6-12.2-5.0-0.13.1
Railway Traffic6.62.92.01.6-6.1-6.6-8.10.94.33.06.5
 
Domestic Stability
WPI Inflation3.12.82.01.21.20.30.00.62.83.12.3
Policy rate (%)6.256.006.005.755.755.405.405.155.155.155.15
Real Interbank rate (%)4.43.83.83.73.33.32.92.52.01.61.3
Broad Money (M3)10.510.310.110.69.89.610.69.810.411.210.2
Credit Growth8.06.510.79.511.113.112.913.111.78.97.4
Non-performing Loans (%)2.42.73.44.04.35.99.210.09.5
 
External Resilience
Current Account (% GDP)-0.6-1.3-1.5-1.8-1.8-2.3-2.4-2.1-2.0-1.6-0.9
Trade bal (3m rolling, USD bn)-35.7-44.1-49.2-47.0-44.0-39.5-36.2-34.6-34.3-38.6-36.3
3m % chg in FX reserves4.44.64.84.12.41.50.93.85.36.05.9
3m % chg in FX rate (vs. USD)1.82.00.11.0-2.0-2.8-3.3-0.40.2-0.40.0
Import cover (no. of months)9.69.79.810.010.110.210.410.811.111.411.7
REER0.12.52.13.21.46.08.14.65.05.26.2
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP5.05.15.25.15.35.25.25.15.15.05.0
 
Demand Conditions
Retail Sales10.17.7-1.82.41.10.73.61.3-0.5-0.3-1.9
Consumer Confidence124.5128.2126.4124.8123.1121.8118.4124.2126.4121.7117.7
Motor Vehicle Sales-11.2-16.31.3-17.0-11.4-0.1-9.4-9.4-0.2-2.6-2.7
Visitor Arrivals-1.7-0.41.39.9-4.13.12.14.910.7-2.05.9
Government disbursement (ytd)7.88.49.89.68.06.55.54.55.34.9-9.1
Investment Realisation: Foreign15.412.711.411.5-13.5-20.2-11.6-11.5-2.15.3-5.0
Investment Realisation: Dom16.916.816.411.032.130.528.514.218.718.818.5
Capital Goods Imports-7.9-15.43.3-3.5-5.88.9-11.3-3.5-8.4-5.3-16.4
Exports-9.0-8.5-8.9-5.1-10.0-5.7-6.1-6.11.1-2.111.0
 
Supply Conditions
Industrial Production0.63.24.03.64.64.04.56.73.31.5-0.8
Purchasing Manager (Index)50.451.650.849.649.049.147.748.249.549.351.9
Business Tendancy (Index)111.6112.4111.0106.3112.8108.1104.7102.1108.8105.3104.8
Electricity Sales10.47.014.29.612.321.121.612.42.015.26.8
Cement Consumption-0.7-8.412.7-1.6-3.2-0.52.09.57.2-7.4-0.1
Port Cargo Handled40.627.958.66.2-6.92.9-0.817.1-6.76.80.9
 
Domestic Stability
CPI Inflation2.62.52.83.33.33.33.53.43.13.02.7
Policy rate (%)6.006.006.005.755.505.255.005.005.005.004.75
Real Interbank rate (%)4.24.34.03.43.22.92.62.62.72.62.3
Broad Money (M2)6.56.27.86.87.97.39.46.37.16.57.1
Credit Growth12.011.111.19.99.78.78.06.67.05.95.7
Non-performing Loans (%)2.12.42.92.62.31.81.72.12.43.02.6
Unemployment Rate (%)5.95.86.25.55.65.35.55.15.35.05.3
 
External Resilience
Current Account (% GDP)-1.9-2.2-2.6-2.9-3.1-3.1-2.9-2.7-3.1-2.9-2.7
Trade bal (3m rolling, USD bn)-0.1-1.4-1.80.50.3-0.10.1-1.4-1.3-2.11.6
3m % chg in FX reserves3.5-2.4-0.61.35.10.40.60.23.94.03.0
3m % chg in FX rate (vs. USD)0.1-2.5-0.10.71.00.8-0.51.20.72.72.1
Import cover (no. of months)8.18.08.28.48.68.58.88.99.19.39.2
REER3.03.43.05.35.79.09.55.04.04.04.9
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 Sales13.512.210.49.29.812.912.18.67.57.06.9
Motor Vehicle Sales9.66.241.4-34.0-25.7-22.043.014.08.913.8-12.0
Visitor Arrivals-0.9-3.4-3.65.66.510.36.15.54.83.9-4.8
Government disbursement (ytd)0.31.5-0.53.6-4.66.08.56.18.35.912.0
Foreign Direct Investment-0.747.7-11.2-1.020.4-41.55.612.0-24.0-8.0-2.6
Manuf Investment Approved-28.6-13.4-14.18.997.519.269.037.2103.063.6-2.4
Capital Goods Imports-3.2-2.1-1.9-12.6-10.0-15.1-3.8-8.1-2.9-6.5-9.0
Exports-0.80.21.0-2.91.0-0.6-6.1-7.0-5.43.0-1.6
 
Supply Conditions
Industrial Production1.74.04.03.81.21.71.70.42.11.30.6
Purchasing Manager (Index)49.448.847.847.447.647.949.349.550.048.848.5
Business Conditions (Index)114.1103.1101.598.6116.3108.895.394.394.269.088.3
Electricity Production4.74.76.05.81.82.10.54.90.51.60.9
 
Domestic Stability
CPI Inflation0.20.20.21.51.41.51.11.10.91.01.6
Policy rate (%)3.253.003.003.003.003.003.003.003.002.752.75
Real Interbank rate (%)3.23.33.23.23.13.02.92.82.82.72.2
Broad Money (M2)5.95.25.65.04.74.13.83.22.83.53.8
Credit Growth7.04.54.54.23.93.93.83.73.73.93.5
Non-performing Loans (%)4.83.63.42.72.01.81.61.61.61.51.5
Unemployment Rate (%)3.33.43.33.33.33.33.33.23.23.33.2
 
External Resilience
Current Account (% GDP)2.12.32.42.32.83.02.83.42.82.22.1
Trade bal (3m rolling, USD bn)9.08.98.37.38.28.68.18.77.78.77.5
3m % chg in FX reserves1.3-0.1-0.30.51.20.3-0.7-0.30.60.90.2
3m % chg in FX rate (vs. USD)0.1-2.2-2.0-0.2-0.5-0.5-1.60.70.82.6-0.2
Import cover (no. of months)5.85.85.75.85.96.06.06.06.06.16.1
REER-2.4-2.5-1.4-1.1-1.0-0.1-1.0-0.7-0.80.5-0.9
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP6.67.26.66.56.26.06.35.65.56.06.4
 
Demand Conditions
Domestic Trade8.83.3-2.96.125.310.60.3-0.6-17.920.1-27.8
Consumer Exp (Current)13.110.29.51.73.8-7.1-22.5-0.5-1.34.61.3
Motor Vehicle Sales0.89.719.623.17.812.014.121.65.5-11.8-2.8
Visitor Arrivals13.811.112.215.621.819.629.617.123.222.413.0
Government disbursement (ytd)0.8-3.2-0.8-0.8-0.10.95.55.16.711.428.0
Foreign Direct Investment-55.061.2-82.8-37.970.4-0.9321.2223.660.2327.923.0
Investment Approved29.7105.12.852.4-50.2-34.7114.248.1-6.7187.7-31.9
Capital Goods Imports13.90.10.8-3.43.5-1.31.1-4.11.0-2.31.7
Exports-1.81.01.03.33.50.8-1.20.3-0.421.69.7
 
Supply Indicators
Industrial Production (Volume)-8.8-14.0-7.8-9.0-8.5-12.3-6.2-4.7-7.5-9.1-1.6
Purchasing Manager (Index)50.951.251.352.151.951.852.151.451.752.152.3
Business Outlook (Index)43.037.943.339.539.330.127.235.240.537.340.2
Electricity Production2.01.89.42.15.43.22.76.710.23.95.7
Port Cargo Handled1.31.77.10.03.81.76.06.62.70.9-3.0
 
Supply Conditions
CPI Inflation3.03.22.72.41.70.90.81.32.52.92.6
Policy rate (%)4.754.504.504.504.254.004.004.004.004.003.75
Real Interbank rate (%)0.50.3-0.1-0.6-0.8-0.5-0.10.50.70.90.8
Broad Money (M3)7.36.17.06.46.66.96.37.78.59.811.4
Credit Growth11.512.810.610.511.610.510.38.69.510.412.4
Non-performing Loans (%)3.53.42.62.22.42.01.91.71.61.7
Unemployment Rate (%)5.65.05.35.55.45.15.25.15.44.55.3
 
External Resilience
Current Account (% GDP)-0.9-0.6-0.1-0.7-0.5-1.5-2.6-2.6-3.0-1.9-1.1
Trade bal (3m rolling, USD bn)-9.8-9.3-9.9-9.1-9.1-8.4-9.1-9.0-9.6-9.0-9.3
3m % chg in FX reserves1.73.11.61.50.80.80.80.22.61.21.6
3m % chg in FX rate (vs. USD)0.7-0.11.21.90.4-0.6-0.72.62.61.30.0
Import cover (no. of months)8.88.89.09.19.19.39.39.59.69.89.7
REER6.35.56.36.03.44.34.22.94.24.25.4
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP4.24.44.05.04.63.23.82.92.42.61.6
 
Demand Conditions
Retail Sales7.89.213.510.17.10.6-3.6-1.1-3.3-4.5-3.6
Consumer Confidence79.277.776.475.073.672.270.769.168.367.364.8
Motor Vehicle Sales8.58.73.7-2.1-1.1-6.9-14.1-11.3-16.2-21.4-8.2
Visitor Arrivals-0.63.2-0.41.34.77.410.112.55.92.52.5
Government disbursement (ytd)8.09.57.44.44.13.05.0-11.0-18.4-14.0-18.0
FDI Approved ytd-8.3-33.4-36.011.81.46.310.741.8-8.4-16.210.3
Private Investment Index-0.6-1.0-0.9-5.20.8-5.8-2.8-4.6-7.5-3.7-8.1
Capital Goods Imports-3.23.0-4.6-12.06.7-14.8-7.1-3.2-15.5-8.1-2.1
Exports-3.4-1.4-7.7-6.2-3.9-8.8-7.7-12.0-15.4-9.2-1.0
 
Supply Conditions
VAPI-2.51.5-3.2-5.1-3.2-4.4-5.0-8.0-8.0-4.4-4.6
Purchasing Manager (Index)51.050.750.650.350.050.650.049.350.149.949.5
Thai Industry Sentiment (Index)95.095.994.593.592.892.191.292.391.792.290.2
Electricity Production4.811.28.44.94.21.3-0.43.30.6-3.35.7
Cement Consumption-4.9-10.6-3.8-3.62.72.8-5.41.1-4.7-3.4-2.5
Port Cargo Handled10.60.50.52.9-2.41.41.7-2.3-1.5-4.9-76.3
 
Domestic Stability
CPI Inflation1.21.10.91.00.50.30.10.20.91.10.7
Policy rate (%)1.751.751.751.751.501.501.501.251.251.251.00
Real Interbank rate (%)0.80.80.80.90.70.80.90.70.70.60.3
Broad Money3.84.13.83.33.74.54.74.44.33.63.7
Credit Growth1.80.60.31.12.32.03.21.93.63.43.3
Non-performing Loans (%)5.65.23.92.92.42.32.32.73.03.13.1
Unemployment Rate (%)1.01.10.91.11.01.00.91.11.01.11.1
 
External Resilience
Current Account (% GDP)9.39.79.69.38.66.55.65.25.46.36.9
Trade bal (3m rolling, USD bn)6.77.05.16.07.79.88.08.46.75.94.2
3m % chg in FX reserves0.3-1.21.73.74.92.22.00.41.73.43.8
3m % chg in FX rate (vs. USD)-0.2-1.52.03.33.31.71.51.61.2-0.4-3.6
Import cover (no. of months)11.211.111.111.511.611.912.012.212.312.412.8
REER3.04.26.08.57.86.86.77.17.03.80.2
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP (ytd)5.76.46.97.47.17.07.16.86.87.07.0
 
Demand Conditions
Retail Sales (ytd)11.911.611.511.611.511.611.811.811.910.28.3
Visitor Arrivals (ytd)7.68.87.57.98.710.813.015.416.232.84.8
Government disbursement (ytd)9.28.88.35.85.66.58.55.65.46.66.8
Foreign Direct Investment (ytd)50.438.7-37.2-37.4-32.3-22.3-14.6-7.0-6.8454.1104.7
State Investment (ytd)3.63.43.13.03.44.24.75.45.69.717.5
Capital Goods Imports (Proxy)24.68.93.29.115.210.66.25.522.5-17.819.4
Exports10.39.47.411.110.410.77.34.714.0-17.434.0
 
Supply Conditions
Industrial Production (IPI)9.310.29.09.810.510.49.85.56.2-5.523.7
Purchasing Manager (Index)52.552.052.552.651.450.550.051.050.850.649.0
IPI: Electricity12.410.37.510.59.910.69.711.03.3-3.522.5
Freight Carried4.33.83.43.12.92.82.82.83.06.77.0
 
Domestic Stability
CPI Inflation2.92.92.22.42.32.02.23.55.26.45.4
Policy rate (%)4.254.254.254.254.254.004.004.004.004.004.00
Real Interbank rate (%)0.70.91.11.61.92.21.92.02.31.1-0.1
Broad Money (M2)16.614.414.014.315.416.113.112.710.910.512.2
Unemployment Rate (%)2.32.22.22.22.22.22.22.22.22.22.2
 
External Resilience
Current Account (% GDP)0.2-8.3-5.4-1.8-0.66.63.54.02.44.01.7
Trade bal (3m rolling, USD bn)0.3-0.10.30.85.45.16.94.93.61.42.3
3m % chg in FX reserves3.63.65.518.514.52.6-1.3-2.712.43.17.6
3m % chg in FX rate (vs. USD)-0.6-0.7-0.5-0.3-0.3-0.4-0.4-0.1-0.10.0-0.3
Import cover (no. of months)3.03.13.13.23.13.23.23.23.33.43.5
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.93.53.44.53.42.61.10.70.4-2.8-2.9
 
Demand Conditions
Retail Sales (Vol)-0.8-4.9-1.8-7.6-13.1-25.3-20.3-26.4-25.4-21.1-23.0
Retail Sales (Motor Vehicle, Vol)1.6-6.3-0.2-8.4-5.4-16.2-16.1-20.0-12.2-4.7-20.9
Visitor Arrivals17.35.219.58.5-4.8-39.1-34.2-43.7-55.9-51.5-52.7
Government disbursement (ytd)12.99.29.4-2.90.01.512.211.010.08.39.3
Foreign Direct Investment39.666.9-64.7-3.128.5-62.153.3-45.5-22.7-222.8-13.1
Capital Goods Imports2.5-2.6-5.3-12.3-8.1-14.0-11.4-17.6-5.5-7.8-21.5
Domestic Exports9.6-3.7-2.8-6.116.84.21.2-9.5-8.312.5-13.8
 
Supply Conditions
Industrial Production-0.1-0.90.20.40.40.71.01.61.11.21.4
Purchasing Manager (Index)48.446.947.943.840.841.539.338.542.146.846.8
Business Situation (Index)6.05.02.08.06.02.0-12.0-1.0-8.0-25.0-22.0
Electricity Production-2.8-14.35.4-1.34.615.3-8.0-13.8-4.3-5.14.3
Cargo Handled-11.2-6.19.85.4-1.15.910.49.510.3-0.72.8
 
Domestic Stability
CPI Inflation2.12.92.83.33.33.53.23.13.02.91.4
Policy rate (%)2.752.752.752.752.502.252.002.002.492.002.00
Real Interbank rate (%)-0.6-0.4-0.4-0.1-0.4-0.4-0.5-0.7-0.5-0.5-0.5
Broad Money (M2)3.92.13.74.03.83.32.84.14.42.82.3
Credit Growth3.10.53.13.33.65.16.37.07.06.76.4
Non-performing Loans (%)1.21.60.80.70.60.50.50.70.90.70.5
Unemployment Rate (%)2.82.82.82.82.92.92.93.13.23.33.4
 
External Resilience
Current Account (% GDP)3.74.14.74.64.13.73.23.74.35.16.0
Trade bal (3m rolling, USD bn)-15.1-18.2-16.4-15.9-15.6-14.7-11.7-11.5-11.3-11.4-11.4
3m % chg in FX reserves1.00.81.82.8-1.1-1.6-1.70.30.61.12.7
3m % chg in FX rate (vs. USD)0.00.00.30.40.1-0.1-0.40.20.40.90.7
Import cover (no. of months)8.88.88.99.19.29.09.29.39.29.49.6
REER6.25.14.53.03.43.31.50.70.60.01.7
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.83.92.82.82.92.12.91.72.02.02.3
 
Demand Conditions
Retail Sales (Real)2.41.43.41.2-0.34.13.01.93.74.51.8
Consumer Sentiment Index101.797.997.695.992.497.098.6101.0100.5104.296.9
Motor Vehicle Sales2.23.4-2.12.8-5.3-3.3-8.0-7.7-2.7-24.2-23.7
Visitor Arrivals12.422.820.015.115.414.014.28.47.910.015.2
Government disbursement (ytd)17.012.916.414.815.413.112.512.011.812.5
Foreign Direct Investment-9.1-11.249.827.988.5-13.6-17.8-35.7-38.14.727.9
Index of Equipment Investment-15.9-4.6-8.5-7.1-3.0-2.2-0.4-1.61.111.2-3.8
Capital Goods Imports0.60.6-8.1-0.2-2.20.0-11.6-5.90.9-6.612.0
Exports-2.1-9.8-13.8-11.1-14.0-11.9-15.0-14.5-5.3-6.54.3
 
Supply Conditions
Industrial Production (IPI)-1.00.71.4-0.90.90.20.80.11.63.9-0.5
Purchasing Manager (Index)50.248.447.547.349.048.048.449.450.150.148.7
Business Conditions (Index)91.890.090.086.786.688.489.491.789.689.583.1
IPI: Electricity-0.11.83.1-2.7-5.4-3.04.3-2.4-1.7-2.4-5.6
Cargo Handled6.3-1.0-8.51.0-2.17.3-6.8-1.1-2.84.8-5.8
 
Domestic Stability
CPI Inflation0.60.70.70.60.0-0.40.00.20.71.51.1
Policy rate (%)1.751.751.751.501.501.501.251.251.251.251.25
Real Interbank rate (%)0.60.60.60.40.50.80.81.11.11.00.8
Broad Money (M2)6.96.86.36.96.57.87.27.18.67.97.7
Credit Growth6.06.16.16.25.95.85.96.16.16.16.3
Non-performing Loans (%)0.60.60.60.50.60.60.50.50.50.4
Unemployment Rate (%)4.04.04.04.03.13.43.53.63.74.03.3
 
External Resilience
Current Account (% GDP)4.85.04.64.24.34.54.54.64.23.73.6
Trade bal (3m rolling, USD bn)11.610.89.78.37.89.812.714.510.55.86.4
3m % chg in FX reserves-0.4-0.7-0.5-0.2-0.10.10.81.51.40.80.4
3m % chg in FX rate (vs. USD)-1.9-5.4-3.7-3.1-2.3-1.7-0.53.61.61.4-2.4
Import cover (no. of months)9.29.29.39.39.39.49.69.79.79.89.8
REER-2.7-6.2-4.9-4.6-7.7-6.7-5.5-5.5-5.8-4.5-5.7
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP3.45.14.54.84.93.01.31.10.20.70.8
 
Demand Conditions
Retail Sales (constant)-9.60.0-1.6-2.3-9.5-1.8-4.1-2.6-4.9-5.2-4.4
Motor Vehicle Registrations-1.1-15.0-41.232.5-14.2-9.7-25.7-25.0-29.7-39.1-6.8
Visitor Arrivals-1.23.41.10.44.03.13.44.39.07.53.9
Government disbursement (ytd)-3.9-2.2-1.88.41.65.25.010.44.01.41.1
Foreign Direct Investment-55.1112.622.3-32.8104.5-14.8-22.615.316.05.035.5
Net Invest Commit (Manuf)165.0-70.835.7-74.8-5.2-14.89.2822.5-29.6-89.8286.9
Capital Goods Imports (Proxy)6.4-0.7-7.7-7.5-9.3-8.0-2.8-3.51.5-3.815.9
NODX-10.1-16.3-17.5-11.5-9.0-8.1-12.5-5.92.4-3.33.0
 
Supply Conditions
Industrial Pdn (Excl. Biomed Mfg)0.6-7.3-1.1-4.1-10.81.7-9.5-3.8-0.8-9.6-3.2
Purchasing Manager (Index)50.349.949.649.849.949.549.649.850.150.348.7
Business Expectations (Index)9.06.010.024.05.02.0-2.01.0-14.0-2.01.0
Electricity Production1.52.62.0-0.21.72.46.00.72.80.2-0.1
Cement Demand-17.2-2.2-9.4-6.2-8.22.3-4.8-2.15.5-4.811.4
Sea Cargo Handled4.54.63.0-0.3-6.9-1.1-1.81.1-2.0-1.7-1.0
 
Domestic Stability
CPI Inflation0.50.60.80.90.60.40.50.50.40.60.8
Policy rate (3m SIBOR, %)1.952.012.002.001.881.881.811.771.771.711.69
Real Interbank rate (%)1.51.41.41.41.41.31.41.31.21.21.1
Broad Money (M2)4.95.25.55.44.94.44.84.85.95.05.8
Credit Growth2.21.42.12.12.02.22.22.63.13.13.0
Non-performing Loans (%)1.42.01.41.11.00.90.80.91.21.41.3
Res Unemployment Rate (%)3.13.12.92.92.92.93.03.13.13.23.2
 
External Resilience
Current Account (% GDP)16.518.715.015.619.021.716.915.120.820.216.3
Trade bal (3m rolling, USD bn)7.87.96.87.27.38.49.38.78.35.74.3
3m % chg in FX reserves1.0-9.2-7.4-8.12.6-0.61.51.32.60.72.5
3m % chg in FX rate (vs. USD)0.0-1.2-0.6-0.4-1.0-1.2-0.61.71.61.4-2.1
Import cover (no. of months)9.58.68.98.98.99.09.29.29.39.39.4
REER1.21.00.5-0.2-0.9-0.3-0.2-0.4-0.5-0.9-2.4
t-10 t-9 t-8 t-7 t-6 t-5 t-4 t-3 t-2 t-1 t
Real GDP2.92.53.43.53.23.32.41.81.82.42.9
 
Demand Conditions
Retail Sales0.84.01.93.56.64.02.74.25.10.40.9
Consumer Confidence85.379.579.881.579.780.981.080.484.385.383.9
Motor Vehicle Sales2.5-11.1-3.02.9-3.933.53.531.532.1-8.220.2
Visitor Arrivals6.524.723.58.815.98.1-5.0-2.2-2.81.6-6.3
Government disbursement (ytd)9.08.72.63.63.83.81.91.91.83.618.4
Foreign Investment Approved331.1232.1115.8-84.4359.7110.6141.7-21.0-66.3192.8116.8
Capital Goods Imports3.9-1.120.73.20.918.612.517.638.5-7.742.0
Exports1.6-0.95.61.54.8-3.3-1.31.92.5-10.021.8
 
Supply Conditions
Industrial Production-9.50.9-2.6-0.74.12.5-0.6-2.62.06.3-1.5
Purchasing Manager (Index)51.748.248.148.048.250.051.154.956.251.352.7
Mfg Sentiment (Index)95.994.694.693.195.095.994.692.193.396.494.2
Electricity Consumption-1.5-1.0-1.3-0.4-1.8-0.4-1.21.0-0.1-0.3-4.2
Cargo Handled1.81.7-2.9-2.6-1.9-1.8-1.3-1.5-6.90.9-9.3
 
Domestic Stability
CPI Inflation0.60.80.60.40.30.50.30.61.11.10.4
Policy rate (%)1.3751.3751.3751.3751.3751.3751.3751.3751.3751.3751.375
Real Interbank rate (%)-0.4-0.3-0.2-0.10.00.10.20.20.10.10.1
Broad Money (M2)3.33.63.13.43.33.53.64.24.24.54.6
Credit Growth4.64.84.64.35.24.95.25.65.15.04.6
Non-performing Loans (%)1.10.60.40.40.40.20.20.30.30.20.2
Unemployment Rate (%)3.723.743.763.743.733.733.743.733.733.723.71
 
External Resilience
Current Account (% GDP)14.213.413.014.514.613.311.412.011.712.010.9
Trade bal (3m rolling, USD bn)5.64.45.26.07.46.66.84.84.24.23.7
3m % chg in FX reserves0.40.10.60.50.80.51.11.31.81.41.2
3m % chg in FX rate (vs. USD)-0.1-1.4-1.4-0.7-0.50.71.22.92.62.21.0
Import cover (no. of months)19.719.719.719.920.020.020.220.220.120.520.0
REER-0.9-0.9-1.7-1.9-1.9-0.6-0.1-0.40.82.61.5

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