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As global GDP growth slows, Asean markets offer catch-up potential in 2022: Pictet

Jovi Ho
Jovi Ho12/24/2021 8:54 AM GMT+08  • 7 min read
As global GDP growth slows, Asean markets offer catch-up potential in 2022: Pictet
Pictet expects global real GDP growth to decline to 4.5% in 2022 from 5.8% in 2021 as most economies reach “cruising speed”.
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Equities in Asean markets offer catch-up potential, especially within the healthcare and financial sectors, says Pictet Wealth Management in its 2022 outlook.

“We see Japanese growth accelerating from 1.8% to 2.2%, thanks to a delayed recovery in consumption and additional fiscal stimulus,” says Dong Chen, head of Asia macroeconomic research at Pictet Wealth Management.

Speaking from Hong Kong on Dec 9, Chen adds: “We expect growth to improve also in Indonesia and Vietnam, although uncertainties remain high, especially given relatively low vaccination rates. India should remain relatively stable at 8.0%, partly due to favourable base effects.”

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