Compared to the end of 2016, the beginning of this year, economists of major ASEAN countries revised their growth forecasts for 2017 with brighter upcoming results.
In December 2016, the growth forecasts for 2017 were revised down, being influenced by the anxieties over Trump’s protectionist rhetoric. However, newly created forecasts, especially for export -driven Singapore, Malaysia and Thailand improved.
While the economists are expecting the growth increase for Singapore, Malaysia and Thailand, the 2017 forecasts for Indonesia and the Philippines remain unchanged, as the two economies are likely expected to see steady growth.
On the other hand, even with increased forecasts, the economists are still concerned about Trump’s policies. The US protectionist stance and increased uncertainty may have effect on the global financial markets, including ones in the ASEAN region.