PANTHEON EM ASIA DATA WRAP 4 December 2024

Continued food disinflation in Thailand mutes the headline’s November uptick

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

3 December 2024 Emerging Asia Monitor ASEAN manufacturing largely losing steam in the run-up to 2025

• The manufacturing PMI for ASEAN ticked up to 50.8 in November, but its downtrend remains intact.
• More softness is in store heading into 2025; activity is uneven, and forward-looking gauges are falling.
• Indonesian inflation fell further in November to a 40-month low, opening the door more to rate cuts.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

PANTHEON EM ASIA DATA WRAP 2 December 2024

A narrow and likely short-lived uptick in ASEAN’s PMI for November
Inflation moves closer to the lower bound of BI’s target range; S/T stability coming

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

EM Asia Datanote: Core Industries, India, October

• In one line: A modest acceleration, and one that was flattered by Diwali calendar effects.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

EM Asia Datanote: GDP, India, Q3

• In one line: We told you so.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

EM Asia Datanote: Retail Sales, Thailand, September

• In one line: The boost from ‘other’ sales fades, again; no noticeable immediate lift from the first cash-handout.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

29 November 2024 Emerging Asia Monitor Taiwan's October retail sales drop appears temporary

• Retail sales in Taiwan unexpectedly fell by 0.5% year-over-year in October…
• …The Ministry of Economic Affairs attributes this to Typhoon Kong-rey; we see more to the story.
• We are optimistic that sales will bounce back inNovember, as one-off headwinds reverse.

Miguel Chanco (Chief EM Asia Economist)Emerging Asia

November 2024 - Emerging Asia Chartbook

EM ASIA IS PARTICULARLY EXPOSED TO ‘TRUMP 2.0’

• …INDONESIA AND THE PHILIPPINES DISAPPOINT IN Q3

Miguel Chanco (Chief EM Asia Economist)Emerging Asia