Asia Q3 GDP Releases

Data outlining the performance of the second half of 2016 has started to emerge in Asia following the release of Q3 national accounts by several countries. So far, the GDP numbers have been mixed, with signs of stability indicated in China and a recovery picking up speed in Taiwan. The former saw real GDP growth come in at 6.7% (y-o-y) for the third straight quarter, underpinning hopes that the Chinese economy is starting to stabilise, while the latter has seen its recovery gain impetus, with growth of 2.1%, up from 0.7% in the prior quarter. However, the upbeat data contrasts with signs of renewed softness evident in Singapore and South Korea. Preliminary Q3 data for Singapore suggested that growth slowed markedly to 0.6% (y-o-y) and the outlook appears challenging going forward. In South Korea, domestic woes weighed on activity, pushing growth down from 3.3% (y-o-y) to 2.7%.

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