7/22/2023 0 Comments Inflation are reasons optimism.![]() This strength is belatedly winning Southeast Asia the economic recognition it deserves. HSBC Global Research expects Thailand, Singapore, Indonesia, the Philippines, Malaysia and Vietnam to grow by 3.2% to 7.6% this year despite economic uncertainties and volatility. Amid a flood of global downgrades, the Asian Development Bank’s September outlook upgraded its forecast for the region’s GDP growth from 4.9% to 5.1%. In a global economy facing a protracted period of weak growth and high inflation, Southeast Asia is a rare reason for optimism, with strong fundamentals, accelerating growth and a bright future. Investor information in Chinese - 投資者中文資訊 Also, those who self-identify with the middle class are more optimistic than those who classify themselves as upper or lower class.Founded in 1865, HSBC is one of the world’s largest banking and financial services organisations.įind information about our performance, dividends, and investor events. Still the Land of Prosperity? By a two-to-one margin, 63% to 31%, Americans agree with the statement that “although there may be bad times every now and then, America will always continue to be prosperous and make economic progress.” Blacks, Hispanics, Democrats and young adults register the most optimistic views on this question. An additional 12% say the changes will be minor and permanent. When asked a similar battery of questions about the impact of the recession on the way they live their lives, a smaller share of respondents-just 8%-say they believe the changes will prove to be both major and permanent. ![]() Older adults are more downbeat than younger adults (21% of those ages 50 and older see major, permanent changes, compared with just 13% of those ages 18-24) college graduates are more pessimistic than whose with a high school diploma or less education (22% of the former see major, permanent change, compared with 14% of the latter) and Republicans are more pessimistic than Democrats (22% vs. economy, but most (61%) say that these changes will prove to be temporary. Recession Impact: Permanent or Temporary? Most Americans (70%) believe that the recession has inflicted major changes on the U.S. However, back in December 2008, when the recession was about a year old, fully 80% of adults said they were hearing mostly bad news about the economy. These shares have barely budged in the past year. Public Says Mix of Economic News Is Unchanged: About two-thirds of adults (65%) say that these days they are hearing a mix of good and bad news about the economy, while 30% say they are hearing mostly bad news and just 4% say they are hearing mostly good news. Overall, blacks, Hispanics and young adults are more upbeat about the idea of generational progress than are whites and older adults. At the start of the recession in early 2008, this gap was 35 percentage points. ![]() This is a “positive/negative” gap of just 19 percentage points on a question that tests the public’s faith in a core tenet of the American dream-the idea that children grow up to live better than their parents. Even more striking, 26% now say their children’s standard of living will be lower. Today fewer than half (45%) of adults believe that when their children become the age they are now, their children will enjoy a better standard of living than they have now. Among the most optimistic demographic groups are blacks (81% expect their finances to improve in the coming year), Hispanics (74%) and 18- to 29-year-olds (85%).ĭuring the past decade, Americans have grown increasingly skeptical about the standard of living of future generations-and this skepticism has deepened during this recession. That is the most upbeat reading on this measure since September 2007, just before the recession began. Next Year Will Be Better: More than six-in-ten (62%) adults say they expect their financial situation to improve in the coming year, compared with just 19% who say they expect it to get worse.
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