India’s GDP Grows 6.1%, Accelerating for First Time Since 2007

Aug. 31 (Bloomberg) -- India’s economic growth accelerated for the first time since 2007, indicating the global recession’s impact on Asia’s third-largest economy is waning.

Gross domestic product expanded 6.1 percent in the three months to June 30 from a year earlier after a 5.8 percent gain in the previous quarter, the Central Statistical Organisation said in New Delhi today. That was less than the median 6.2 percent forecast in a Bloomberg News survey of 27 economists.

Click here for more detail from Bloomberg

Philippine Growth Climbs as Asian Economies Recover

Aug. 27 (Bloomberg) -- Philippine economic growth accelerated in the second quarter from the slowest pace in a decade, adding to signs Asian nations are recovering from the global recession. Stocks rose.

Gross domestic product increased 1.5 percent from a year earlier, the National Statistical Coordination Board said in Manila today. That was three times the 0.5 percent median forecast of 17 economists surveyed by Bloomberg News. The economy expanded a revised 0.6 percent in the first quarter, the weakest pace since a recession ended in 1998.

Click here for more details

Malaysia Q2 GDP shrinks 3.9pc on year

Malaysia’s economy contracted by 3.9 per cent in the second quarter from a year ago, less than expected, and pace of decline slowed from a 6.2 per cent drop in the first quarter, signalling the start of a slow recovery for this export-dependent country.

Economists in a Reuters poll had forecast gross domestic product would drop by 5.1 per cent due to poor demand for Malaysian exports, which account for 110 per cent of gross domestic product.

Central bank Governor Tan Sri Dr Zeti Akhtar Aziz told a press conference that the budget, due in October, would see a revision to government forecasts that the economy would shrink 4-5 per cent for the full year and that the drop would be less than that.

Click here for more details

Related Article
Economists expect recovery in 2nd quarter

Malaysian Economy Enters Recession; May Resume Growth This Year

China economy to grow 8 pct in 2010 -PBOC's Fan

SHANGHAI, Aug 24 - China's economic growth is likely to stay at 8 percent next year as property and corporate investment and rising exports take up the slack from waning government investment, central bank adviser Fan Gang said in remarks reported on Monday.

Fan added that the Chinese economy had established a recovery trend and the pace of the recovery was quite rapid, the official Shanghai Securities News reported.

The People's Bank of China adviser also told a conference that the global economy had stabilised, although he predicted it will still experience a period of weakness in the future.

He added that the composition of next year's economic growth would be more diverse and healthier than this year's.

China's latest economic data for July indicated that while growth was moderating after a strong second quarter, the recovery remained on track to achieve the government's goal of 8 percent growth for the full year.