A raft of manufacturing data showing Asian economies growing strongly in the wake of last year’s recovery from the global financial crisis has refocused attention on the threat to the region from inflation.
Purchasing managers’ surveys published over the new year period suggest manufacturing activity picked up sharply in South Korea and Taiwan in December, with growth moderating only slightly in faster-growing China and India.
In a further sign of strong economic growth prospects, Singapore confirmed on Monday that gross domestic product expanded by a record 14.7 per cent in 2010 – likely to prove the fastest of any advanced economy.
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