Southeast Asia’s economies exhibited robust performance in the fourth quarter 2023. GDP grew in all economies, with growth in Indonesia, Singapore, Thailand, and Vietnam increasing during this period, while Malaysia and the Philippines recorded slower growth (Exhibit 1). Strong domestic demand, backed by stable employment prospects and easing prices, along with a continued recovery of the services sector—particularly tourism—and early signs of improvement in exports demand supported growth.
The view for 2024 is cautiously optimistic. All Southeast Asian economies are forecasting…
