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8/19/09

channelnewsasia.com - Asian economies outpace US and Europe on growth track

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Asian economies outpace US and Europe on growth track

Asia is outpacing the United States and Europe in the rebound from the global economic slump, thanks to multi-billion dollar stimulus packages and robust demand from China, analysts said. Second-quarter indicators showed the region's recession-hit economies such as Singapore and Hong Kong have returned to the growth path despite sluggish demand from the US and European markets, their main export destinations. Countries with bigger domestic populations, including China, India, Indonesia, South Korea, the Philippines and Vietnam, have been growing during the global downturn although the pace has slowed.

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