Date: 02/12/2022

No recession seen in 2023 for APAC region

Although the APAC region will face headwinds from higher interest rates and slower global trade growth, a recession is unlikely in the coming year, said Moody’s in its analysis titled ‘APAC Outlook: A Coming Downshift.’ India is headed for slower growth next year more in line with its long-term potential. On the upside, inward investment and productivity gains in technology as well as in agriculture could accelerate growth. But if high inflation persists, the Reserve Bank of India would likely take the repo rate well above 6 per cent, causing GDP growth to falter, said a report.
Source: Exim News Service: Singapore, Dec. 1