The pace of increase in China’s exports has been slowing due to the deceleration in overseas economies, but growth in private consumption has been firm due to households’ higher income levels. Fixed investment continues to show high growth despite a slowdown partly due to government measures to rein in real estate transactions and energy consumption.
With regard to economic conditions in the NIEs and the ASEAN countries, although growth in exports and production has slowed sharply due to the deceleration in overseas economies and adjustments with regard to IT-related goods, the recovery trend remains intact supported by firm domestic demand.