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    East Asia Updates: Special 2018 Annual Edition

    Asia, Economic Research Institute for ASEAN and East | December 2017
    Abstract
    The year 2017 was a good one for most East Asian countries. As shown in Figure 1, almost all countries recorded higher year-to-date (ytd, Q1-Q3 2017) gross domestic product (GDP) growth compared to the average achieved in the past 3 years. Thailand, Singapore, Malaysia, and Japan recorded the largest pickup compared to average growth achieved in the past 3 years. The Philippines managed to grow even more strongly than its already high 3-year average, as did the Republic of Korea and Indonesia though their pickup was less strong than that of other countries in the region. India’s GDP growth, by contrast, was considerably lower than over the past 3 years, due in part to the unexpected demonetisation in November 2016. China recorded a small correction to its recent years’ average, as discussed below, and 2017 is expected to be the first year China’s GDP growth accelerates, after a continuous slowdown since 2011. High-frequency indicators such as the manufacturing Purchasing Managers’ Index (PMI) for Q4 2017 show the expansion continued in the last quarter of 2017. As shown in Figure 2, the manufacturing PMI in most countries continued to point to expansion in October and November, with stronger expansion recorded in November than in October. Overall 2017 GDP growth for the region is expected to be around its current year-to-date growth rate, which is higher than the 2016 rate. The bedrock of this trend, arguably, is the improving global economic conditions, an important factor for economies deeply involved in global trade such as those of the East Asian region.
    Citation
    Asia, Economic Research Institute for ASEAN and East. 2017. East Asia Updates: Special 2018 Annual Edition. © Economic Research Institute for ASEAN and East Asia. http://hdl.handle.net/11540/7996.
    Keywords
    Social condition
    Economic dependence
    Economic assistance
    International monetary relations
    International monetary relations
    International trade
    National accounting
    Market
    Project impact
    Development projects
    Program management
    Performance appraisal
    Project appraisal
    Technology assessment
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Results-Based Monitoring And Evaluation
    Project Evaluation & Review Technique
    Project Evaluation
    Program Evaluation
    Performance Evaluation
    Operations Evaluation
    Evaluation Methods
    Evaluation
    Exchange
    Comparative economics
    Index number
    Monetary policy
    Value analysis
    Adjustment cost
    Transaction cost
    Conditionality
    International relations
    Cumulative effects assessment
    Grievance procedures
    Participatory monitoring and evaluation
    Exchange rate
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    Citable URI
    http://hdl.handle.net/11540/7996
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    Author
    Asia, Economic Research Institute for ASEAN and East
    Theme
    Economics
    Evaluation
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise