The general trend for ASPAC’s economies in the first half of 2012 was one of slowing growth.
In their recent World Economic Outlook July Update, the IMF attribute this partly to the weaker external environment, and also to decelerating domestic demand in response to capacity constraints and policy tightening, particularly in China and India.
However, activity across the region was supported by a rebound in industrial production driven by reconstruction spending after the Tsunami in Japan and Thailand floods, together with strong domestic demand in Japan.