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Economy
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Thailand Cuts GDP Outlook As COVID-19 Cases Slow Recovery
The government downgraded its 2021 economic growth forecast to 1.5%-2.5% as the outbreaks crimped domestic activity amid Thailand's slow vaccine rollout as it was preparing to reopen more broadly to foreign visitors.
China’s Factory Output Slows As Bottlenecks Crimp Production
While China's exporters are enjoying strong demand, global supply chain bottlenecks and rising raw materials costs have weighed on production, cooling the blistering economic recovery from last year's COVID-19 slump.
Japan April Wholesale Prices Jump on Rising Material Costs
With the COVID-19 pandemic weighing on domestic consumption, there is uncertainty about whether companies would pass on higher costs to households and help the central bank achieve its elusive 2% inflation target, analysts say.
Philippines Cuts Rice Tariffs To Ensure Food Security, Fight Inflation
The Southeast Asian nation, which is battling elevated inflation, took into consideration the increase in global rice prices and uncertainties in local rice supply, the president's office said in a statement.
Early and effective prevention steps, including largely closing its borders, succeeded in shielding Taiwan from the worst of the pandemic. The island of 24 million people has reported just 1,256 infections so far, most of them imported.
Japan Bank Lending Slows Sharply As Big Firms Emerge From COVID-19 Strains
The year-on-year increase in lending by major banks, which mainly targets big firms, slowed to 3.9% in April from 6.7% in March, the data showed.
China April Loans Fall More Than Expected As Central Bank Begins Scaling Back Stimulus
The world's second-largest economy grew by a record 18.3% in the first quarter, rebounding from last year's coronavirus shock, driven by strong domestic consumption, surging exports and continued government support for businesses, especially smaller firms.