Oil shock isn't expected to hit the region too hard

Article Abstract:

A rise in oil prices following September 11 and expected U.S. retaliation may not affect Asian economies as much as might be expected. In the case of a $10/barrel rise in the price of oil, Japan might expect a reduction in its gross domestic product growth of just 0.3 percentage points, although East Asia as a whole might experience a 0.6 percentage point drop in GDP growth. But observers point out that a steep rise in oil prices might not happen, as economic recession limits demand for oil.

Commodity & service prices, Crude Petroleum and Natural Gas Extraction, World, Crude petroleum and natural gas, Crude Petroleum, Prices and rates, Petroleum industry, Petroleum

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Economic projections must be revised

Article Abstract:

Most economic forecasts need to be totally reworked in light of the terrorist attacks of September 11, but data on the effect of the attacks will not be available for weeks. Of critical importance will be U.S. consumer spending and confidence, since U.S. consumer spending of $7 trillion/year accounts for about 17% of total world economic output. The effect that the attacks and possible military action against Afghanistan will have on Asia's economy will be very difficult to predict.

Production & Business Activity, Management, Economic forecasting, World Trade Center and Pentagon Attacks, 2001, Afghanistan Conflict, 2001-

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Interest rates are down, but so are investment, lending

Article Abstract:

Many Asian governments have dropped interest rates to near record lows to spur business activity, but bank lending and investments are not growing. Economists believe that Asian countries could be running out of monetary choices to fight the economic slump. A related graph shows interest rates for nine Asian nations.

Commercial Banks, Commercial Banking, Government regulation (cont), Banking industry, Investments, Interest rates, Bank loans

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