>ASIA: RECOVERY DASHBOARD (DBS)

• It’s payback time. The V-shaped recovery in industrial production and exports in Asia over the past few months will show up in double-digit GDP growth in most of Asia in 2Q09, starting this week with China and Singapore

• China will report sequential GDP growth of 16%-17% (QoQ, saar). Singapore should report growth of 15%-16%

• Korea and Taiwan will report 2Q growth of 10%-15%; Thailand should grow by 12%. Indonesia’s growth will return to about 4%.

• With this, Asia’s output will take a big step back toward pre-crisis levels

• China’s June trade data show another 10% (MoM, sa) rise in import demand between May and June. Asia-8 exports to China grew by 8%

• Asia’s exports to the US are no longer falling, China and the US are now pulling Asia in the same direction

To see full report: ASIA RECOVERY DASHBOARD