Southeast Asian economies diverge in Q2 amid AI boom and energy shock: Vietnam leads, Thailand weak

English summary

Southeast Asian economies posted divergent Q2 performances: Vietnam remained the fastest-growing major economy, Thailand was weak; Malaysia and Singapore ranked second and third, driven by strong demand for semiconductors and components in the global tech supply chain; the Philippines was hit by surging energy costs from the Middle East conflict and a sharp decline in infrastructure spending. Economies with key AI-related supply chains showed more resilience, while those reliant on costly imported energy lost momentum.