Credit Suisse has come out with report on the Emerging Market Economics – ‘2013 growth forecast
Following are the keytakeaways
"We have revised up our 2013 GDP forecast for Non-Japan Asia as a whole to 6.6% (from 6.4%) and set 2014 forecast at 6.9%. At the same time, we have also revised up our regional inflation forecast to 4.2% (from 3.7%) and set 2014 at 3.5%", says Credit Suisse report.
According to Credit Suisse report "China’s 2013 GDP growth forecast was revised up to 8% (from 7.5%) and set at 8.2% in 2014. We believe growth will be driven by measured infrastructure investment and steady consumption, but the country is unlikely to get back to fast track growth without structural reforms.
"We have lowered our India GDP growth forecasts for 2012/13 and 2013/14 a touch to 5.9% (from 6%) and 6.9% (from 7.2%), respectively. We look for a 50 bp repo rate reduction at the RBI’s January meeting, followed by further 75 bp cuts by July next year.
Korea and Taiwan’s 2013 growth forecasts are maintained at 3.2% and 3.4%, respectively. For ASEAN, we still believe Philippines offers the best chance of sustained domestic strength next year", says Credit Suisse report