WHAT YOU NEED TO KNOW Private consumption is still below the pre-COVID-19 pandemic trends across Asia. Persistent weaknesses in the service sector, particularly trade, transport and accommodation, have stalled job and income growth. Tourism in several markets has had slower recoveries and remains below the 2015-2019 trend. High household debt and a downturn in the housing cycle have also dampened consumer demand and construction activities in some countries, including Thailand, New Zealand, China … Continue Reading