2010.09.1311:37:00UTC+00ASEAN Recovery May Slow: OECD

The robust expansion of the south east Asian economies may weaken in the next quarter, the Organization for Economic Cooperation and Development, or OECD, said in its latest Asian Business Cycles quarterly report.

Both leading and coincident indicators for the Association of South East Asian Nations, or ASEAN, economies point towards steady growth on the back of sound exports and strong domestic demand supported by improved business sentiment, the report said.

However, the leading indicators suggested that growth may slow in these economies during the next quarter. Continued signs of slowing of the Chinese economy constitute a negative factor for the outlook for ASEAN economies, while uncertainty about growth prospects for OECD economies remain.

However, overall growth prospects are stronger on average for the ASEAN economies than for the Emerging Asia area including China and India.

The 10-member association consists of Malaysia, Vietnam, Thailand, Indonesia, Singapore, Philippines, Myanmar, Laos, Cambodia, Brunei Darussalam.

Copyright(c) 2010 News.com, Inc. All Rights Reserved