East Asia and Pacific: Sustained Growth, Momentum Slowing

October 1, 2023--Improving external conditions to benefit region in 2024
Growth in developing East Asia and Pacific is projected to remain strong at 5% in 2023 but will ease in the second half of 2023 and is forecast to be 4.5% during 2024, the World Bank said on Sunday in its semi-annual economic outlook for the region.

According to the World Bank's East Asia and Pacific October 2023 Economic Update, regional growth this year is higher than average growth projected for all other emerging market and developing economies but lower than previously projected. Growth in China in 2023 is projected to be 5.1% and in the region excluding China to be 4.6%. Growth among Pacific Island Countries is expected to be 5.2%.