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28 Mar 2023
S&P: No meaningful contagion yet for Asia-Pacific from US banks and Credit Suisse turmoil
S&P Global Ratings is out with its review, assessing the economic recovery risk of Asia-pacific, in the facing of the global banking crisis.
Key takeaways
“Growth in annual real GDP in Asia-Pacific will average at the mid 4% level over the next few years.”
“Have yet to see any meaningful contagion for Asia-Pacific from the turmoil of US regional banks and Credit Suisse.“
“For Asia-Pacific net rating outlook bias remains steady at negative 3%; downside risks are worsening.“
“Base case is for China's economy to recover in 2023, and most other Asia-Pacific geographies in 2024.”
“We assess the economic recovery risk of Asia-Pacific as high and unchanged.”