Core Insights - The World Bank forecasts an average economic growth rate of approximately 1.7% for Azerbaijan from 2025 to 2027, with inflation expected to remain within the central bank's target range [1] Economic Outlook - Azerbaijan's economy is projected to experience long-term low growth and significant risks associated with a sharp decline in energy prices [1] - Short-term risks appear minimal, but the long-term sustainability of the economy will depend on the effectiveness of economic diversification reforms [1]

Group 1 - The European Bank for Reconstruction and Development (EBRD) forecasts a 6.1% economic growth for Central Asia in 2025, slightly decreasing to 5.2% in 2026 [1] - Key growth drivers identified include industrial growth, increased investment, rising real wages, and expanded domestic demand [1] - Mongolia's economy is projected to grow by 5.8% in 2025 and 5.5% in 2026, despite a weak performance in the mining sector [1] Group 2 - Mongolia is expected to achieve a 5.6% economic growth in the first half of 2025 [1]

Core Viewpoint - Bank of Ireland has raised its economic growth forecast for Ireland, expecting a GDP growth of 10.7% for this year, driven by the resolution of uncertainties in US tariff policies and strong domestic demand [1] Economic Growth Forecast - The revised GDP growth forecast for 2023 is 10.7%, an increase from the previous estimate of 8.1% [1] - For 2026, the GDP growth is projected at 3.1%, slightly above the earlier forecast of 3.2% [1] Domestic Demand and Exports - The revised domestic demand (MDD) is expected to grow by 3.4% in 2025 and 2.6% in the following year [1] - Exports are anticipated to increase by 7.5% this year and by 4.5% next year [1] Consumer Spending - Consumer spending is projected to grow by 2.8% this year and by 2.4% in the following year [1]

Core Viewpoint - The Brazilian National Confederation of Industry (CNI) has slightly revised down its industrial growth forecast due to a sharp slowdown in the manufacturing sector, while maintaining its GDP growth prediction for 2025 at 2.3% [1] Group 1: Industrial Growth Forecast - CNI has lowered the industrial growth rate from 1.7% to 1.6% [1] - The downward revision is primarily attributed to a significant slowdown in the manufacturing sector, which is facing three adverse factors: declining demand for industrial goods, a surge in imports, and increased tariffs from the United States [1] - The growth forecast for manufacturing has plummeted from an initial 1.9% to the current 0.7% [1] Group 2: Sector Performance - Despite the negative impact on manufacturing, the performance of the extraction industry has exceeded expectations, helping to mitigate the overall downward adjustment in industrial growth forecasts [1] - CNI anticipates that agricultural income will drive an 8.3% growth in the agricultural sector this year [1] - The service sector is expected to grow by 2%, benefiting from an improving job market and increased federal government spending [1]

Core Insights - The International Monetary Fund (IMF) forecasts Kenya's economy to grow by 4.8% in 2025 and 4.9% in 2026, slightly above the 4.7% growth expected in 2024 [1] - The IMF's report on the economic outlook for Sub-Saharan Africa indicates that the region's economic growth is expected to stabilize at 4.1% in 2025, with a moderate recovery in 2026 [1] Economic Growth Drivers - According to the Kenya National Bureau of Statistics (KNBS), Kenya's economy is projected to grow by 5% in the second quarter of 2025, up from 4.6% in the same period last year [1] - Key sectors driving this growth include agriculture, forestry, and fishing (4.4%), transportation and storage (5.4%), and financial and insurance services (6.6%) [1] - The construction and mining sectors are expected to rebound strongly after a contraction in 2024, with construction growth at 5.7% and mining and quarrying growth at 15.3% [1]

Group 1 - The core point of the article highlights that South Korea's GDP grew by 1.2% in Q3, the highest since Q1 2024, driven by strong exports and manufacturing performance, surpassing the Bank of Korea's expectation of 1.1% growth [1] - Analysts have revised their economic growth forecasts for next year, with Samsung Securities and Korea Investment Securities increasing their projections from 2.0% and 1.8% to 2.2% and 1.9% respectively [1] - Key growth drivers include consumption vouchers, a strong stock market, increased semiconductor exports, reduced trade uncertainties, and potential interest rate cuts by the Federal Reserve, although high interest rates and investment uncertainties may limit equipment investment and investments in certain sectors [1] Group 2 - The Korean Composite Stock Price Index (Kospi) has surged nearly 70% this year, making it one of the best-performing indices globally, significantly outperforming returns from U.S. stock indices [1] - Concerns over the potential erosion of asset values due to agreements between South Korea and the U.S. have led retail investors in South Korea to invest heavily in dollar-denominated stocks and gold, exacerbating fears of the won's depreciation [1] - The South Korean won has depreciated over 3% in the past three months, becoming one of the worst-performing currencies in Asia [1] Group 3 - A researcher from the Bank of Korea indicated that the weak trend of the won is expected to continue in the short term, particularly due to the unclear interest rate outlook from the Bank of Japan [5] - The won's depreciation has led to upward pressure on the dollar, with expectations that it will stabilize around 1430 won [5]

Core Insights - The International Monetary Fund (IMF) has revised its economic forecasts for Uzbekistan, indicating an increase in both economic growth and inflation for the years 2025-2026 [1] Economic Growth - The GDP growth forecast for Uzbekistan in 2025 has been raised from 6.5% to 6.8% [1] - For 2026, the GDP growth forecast has been adjusted from 5.8% to 6% [1] Inflation Rates - The inflation rate forecast for 2025 has increased from 8.4% to 9.1% [1] - The inflation rate forecast for 2026 has been revised from 6.5% to 7.1% [1] Current Account Deficit - The current account deficit is expected to improve due to rising global gold prices, with the 2025 deficit projected to be approximately 2.4% of GDP, down from a previous estimate of 5% [1] - For 2026, the current account deficit is forecasted to be around 4.6% of GDP, slightly lower than the earlier prediction of 4.8% [1]

Core Viewpoint - Standard Chartered Bank has raised its forecast for Hong Kong's economic growth for the year to 2.8%, approaching the upper limit of the Hong Kong SAR government's prediction of 2% to 3% [1] Economic Growth Forecast - The bank revised its full-year economic growth forecast for Hong Kong from 2.2% to 2.8% [1] - Growth predictions for the third and fourth quarters have been increased to 3.2% and 1.8%, respectively, which is 1% higher than previous estimates [1] Business Sentiment and Economic Indicators - Business sentiment in Hong Kong improved in the third quarter, supported by stable export growth from July to August, ongoing retail sales recovery, active financial markets, and signs of stability in the property market [1] - These factors reflect a relatively stable external environment positively impacting economic growth [1] Trade Relations and Risks - Despite the resurgence of the US-China trade conflict in the fourth quarter, the bank believes the risk of retaliatory actions similar to those in April is low [1] - Ongoing dialogue between the two parties may extend the trade truce and lead to more agreements [1] Local Economic Challenges - The local economy faces risks from potential ongoing US-China trade tensions, diminishing export effects, and delayed impacts on the local labor market [1] - However, robust economic growth in mainland China, projected at 4.9% for the year, along with government support measures, may alleviate some adverse factors [1]

Core Viewpoint - Standard Chartered Bank has raised its forecast for Hong Kong's economic growth in 2025 from 2.2% to 2.8%, nearing the upper limit of the Hong Kong SAR government's forecast [1][3]. Economic Growth Forecast - The bank has also adjusted the year-on-year economic growth rates for the third and fourth quarters of this year to 3.2% and 1.8%, respectively [1][3]. Factors Influencing Growth - The recovery of business confidence in Hong Kong during the third quarter is attributed to a stabilization in external market uncertainties, steady export growth from July to August, and an improvement in retail sentiment [1][3]. - The financial market remains vibrant, and there are signs of stability in the property market, reflecting a relatively stable external environment positively impacting economic growth [1][3]. Trade Relations and Government Support - The ongoing Sino-U.S. trade tensions may continue into the fourth quarter; however, robust economic growth in mainland China and supportive measures from the Hong Kong SAR government are expected to mitigate some adverse effects [1][3].

Core Insights - The World Bank has revised its economic outlook for the Middle East and North Africa region, increasing the average growth rate for 2025 to 2.8% due to the gradual lifting of oil production cuts by Gulf countries and sustained growth in non-oil sectors [1] Economic Forecast for Iran - Iran's economy is expected to significantly slow down, with a projected contraction of 1.7% in 2025 and 2.8% in 2026, contrasting sharply with the World Bank's previous forecast of a 0.7% growth for 2026 made in April [1] - The report attributes this downturn to intensified sanctions, including the re-imposition of UN sanctions, and the chaotic situation following conflicts in June, which have led to declines in both oil exports and non-oil activities [1]