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A new year has dawned and with it, endless possibilities have arisen concerning Asia Pacific’s economic forecast. Will regional inflation decline at a steady pace this year? Is there any signification that consumer confidence will improve during the first quarter? Are producer prices higher or lower now than they were in recent months?
Has regional foreign trade strengthened or weakened lately? And, are there any signs that bank policy rates will be adjusted?
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There is no question that most EMEA nations faced countless challenges last year, as regional economic recovery continued. From depreciating currencies to double-dip recessions, the road towards recovery remains a test for most, if not all, of the region’s countries.
But, are there any signs that progress will occur in early 2013? Will business and consumer confidence improve? Has any information recently been released regarding the region’s business climate?
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With the release of the BLS’ latest “The Employment Situation” report, which revealed that employment continued to rise within the United States in December, even in the midst of the nation’s recovery from Superstorm Sandy, economists were left to wonder – would such progress be noticed in other North American countries, particularly Canada and Mexico?
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As the end of 2012 quickly approaches, Asia Pacific’s economic forecast remains cloudy. Unemployment is still well above average in many nations, business and consumer confidence is lower than usual, and, as has been the case in recent months, Mother Nature continues to influence the region’s economic recovery. Within the last two months alone, typhoons Son-Tinh and Pablo have led to millions of dollars in damage – and potentially thousands of permanent and temporary layoffs.
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Last month, economists were encouraged by EMEA’s fiscal figures, as regional business and consumer confidence rose in October, while consumer prices remained stable. Such news was certainly welcomed by global economists and regional governmental officials, in the midst of Europe’s double-dip recession.
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On December 7th, the BLS released its final “The Employment Situation” report of 2012, just four weeks after Superstorm Sandy struck the northeastern United States. The hurricane was anticipated to negatively impact national employment figures, potentially leading to thousands of layoffs, but, according to the BLS’ latest jobs report, hiring remained robust in November.
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