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The Asia-Pacific Economic Outlook for the second quarter of 2021

The US economic and financial rating agency S&P Global Ratings said on Thursday that the recovery of the Asia-Pacific economy from the Covid-19 crisis will be boosted by the launch of the US economic recovery package. America and global demand are growing. This is according to the release of Business Standard on March 25, 2021.

The Asia-Pacific Economic Outlook for the second quarter of 2021 said that the distribution of Covid-19 vaccines in the region may be slow in other countries, but it will be enough to boost consumer spending and domestic demand in the region. At the end of 2021.

S&P Global estimates that economic growth in the Asia-Pacific region will reach 7.8 percent this year, up from the previous estimate of 6.8 percent.

The faster-than-expected global distribution of vaccines, the recovery of the US economy, and the increase in trade and production have pushed their forecasts higher.

Shaun Roache, the chief economist for Asia-Pacific at S&P Global Ratings, said: 

“We also anticipate that gradual vaccinations in the region will encourage higher service costs and higher earnings. "It has increased."

While a rapid recovery has taken place in the Asia-Pacific region, S&P Global Ratings expects slow-growing countries to recover by the end of 2021.

Countries that maintain economic growth include China, New Zealand, Taiwan and Vietnam.

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