Asia Economics Monthly - January

. CHINA: The rebound in PMI in December largely reflected the CNY effect. Growth of monetary aggregates accelerated in December. The railway investment target for 2012 may be too conservative and could be revised up.
. HONG KONG: Consumption – boosted by tourism—remains robust while exports are gradually shrinking. Exports will remain weak until Q2 at least, but we do not expect consumption to remain as strong as it has been recently.

Table of Contents
Asia economic and financial forecasts ............... Page 2
China ................................................................... Page 3
Hong Kong .......................................................... Page 5
India .................................................................... Page 7
Indonesia .......................................................... Page 13
Malaysia............................................................ Page 15
Philippines ........................................................ Page 17
Singapore ......................................................... Page 19
South Korea ...................................................... Page 21
Sri Lanka ........................................................... Page 25
Taiwan .............................................................. Page 27
Thailand ............................................................ Page 29
Vietnam............................................................. Page 31
Interest rate and inflation charts ....................... Page 33
Asian economic indicators ............................... Page 37