Moody's say Asia-Pacific economies rebounding but deep economic scars holding some back

Moody's is upbeat on APAC economies but note that Asia-Pacific's strong rebound masks deep economic scars

• says Asia-Pacific's economic activity likely will rebound strongly in 2021 and 2022 as compared with recent performance
• APAC's overall output will likely fall short of pre-pandemic forecasts by 2023 because of deep economic scars from the pandemic
• APAC likely to grow faster in 2021-22 than Middle East & N. Africa and LatAm, but performance to increasingly diverge within region
• sees about 30% of APAC economies will experience output decline of 2%-8% below pre-pandemic forecast GDP levels by 2023
• says more than 40% of APAC economies will have output losses exceeding 8% of pre-pandemic GDP forecast levels by 2023

Moody's report headlines via Reuters