HANOI, 15 SEPTEMBER, 2010: The Association of Southeast Asian Nations (Asean)'s economies are showing signs of steady growth following sound exports, strong domestic demand and improved business sentiment, Vietnam news agency quoted the Organisation for Economic Cooperation and Development (OECD) as saying.
In its latest quarterly business report, OECD's forecast is in line with projections by officials and private sector economists that the pace of the region's economic rebound is likely to ease in the second half of the year, although full-year growth will remain strong.
OECD said leading indicators suggest that growth in many Asean countries may be weakening in the next quarter although said to remain robust.
While the OECD report did not contain projections for gross domestic product (GDP) growth in Asean this year, Singaporean officials have said they expect the island nation's economy to surge by up to 15 percent.
Indonesia's economy is expected to expand 6.0 percent and Malaysia should exceed 6.0 percent GDP growth this year, according to official estimates.
According to the report, signs of a slowdown in the Chinese economy, a key export market, constitute a negative factor for the outlook for Asean economies.
The OECD, a Paris-based international economic organisation comprising 33 of the world's richest countries, based its forecast on data from five Asean nations, including Indonesia, Malaysia, the Philippines, Singapore and Thailand.
Asean's other members are Brunei, Cambodia, Laos, Myanmar and Vietnam.
- Bernama
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