Asia-Pacific Growth Monitor: Better on balance as energy pressures begin to ease

Research evidence excerpt

Asia-Pacific Growth Monitor: Better on balance as energy pressures begin to ease

Economics Research

5 July 2026 | 5:33PM HKT

Asia-Pacific Growth Monitor: Better on balance as energy pressures

begin to ease

n This publication summarizes regional and country-specific growth data across Andrew Tilton

+852-2978-1802 |

the Asia-Pacific economies we cover.1 We include June PMIs, but the most recent andrew.tilton@gs.com

Goldman Sachs (Asia) L.L.C.

“hard” economic indicators refer to May in most cases.

Andrew Boak, CFA

+61(2)9321-8576 |

n The latest set of (June) PMIs was mixed in terms of month-on-month changes, andrew.boak@gs.com

Goldman Sachs Australia Pty Ltd

though generally consistent with solid factory sector growth in terms of absolute

Goohoon Kwon, CFA

levels. China saw both its official PMIs strengthen while the unofficial measures +852-2978-0048 |

goohoon.kwon@gs.com

weakened. India’s manufacturing and services indexes both weakened, while Goldman Sachs (Asia) L.L.C.

Japan’s both strengthened. Supplier delays remained an issue for many Hui Shan

+852-2978-6634 | hui.shan@gs.com

manufacturers in the region. Goldman Sachs (Asia) L.L.C.

Tomohiro Otan Our GS Current Activity Indicators (CAIs) generally held up well or improved in +81(3)4587-9984 |

May and preliminary June data. We upgraded GDP growth forecasts at least tomohiro.ota@gs.comGoldman Sachs Japan Co., Ltd.

slightly in many economies in recent weeks, reflecting the easing of energy price Santanu Sengupta

pressures. +91(22)6616-9042santanu.sengupta@gs.com|

Goldman Sachs India SPL

n Financial conditions eased in the majority of economies in recent weeks, Yuriko Tanaka

reflecting relief from oil prices, among other factors. Korea and Taiwan continue +81(3)4587-9964yuriko.tanaka@gs.com|