S&P MODERATES ASIA GROWTH FORECASTS FOR 2013 AS REBOUND SLOWS

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May 14, 2013

HONG KONG - in a report published today, ratings agency Standard & Poor’s says that while Asia-Pacific continues to record strong real GDP growth relative to other regions, activity indicators in early 2013 suggest the rebound that began in the second half of 2012 has lost some traction. As a result S&P has lowered slightly its base case forecasts of 2013 real GDP growth for some countries. This sees China revised to 7.9%, Hong Kong to 3%, India to 6%, Japan to 0.6%, South Korea to 2.8%, Singapore to 1.9%, Thailand to 4.2%, and Vietnam to 5.3%.