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  "documentTitle": "eyp global economic outlook jan 2024",
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      "text": "We anticipate a gradual rebound in domestic demand across Southeast Asia in 2024.",
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      "text": "Meanwhile, ASEAN's export performance has been lackluster due to weak external demand, affecting both commodity exporters (Indonesia and Malaysia) and manufacturing exporters. Still, ASEAN export growth appears to have bottomed out as growth in developed markets rebound. The bulk of this recovery is led by electronic exports in Malaysia and Singapore. By contrast, non-electronic exports are tepid, reflecting weakness in commodity markets, which will continue to impact Indonesia and Malaysia. Likewise, exports of consumer products such as textiles, garments, footwear and travel goods are also likely to slow down, impacting economies like Cambodia and Vietnam.",
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      "text": "We anticipate a gradual rebound in domestic demand across Southeast Asia in 2024. Unemployment will remain low, propelling the region's private consumption cycle, while lower inflation will support real incomes, underpinning consumer purchasing power.",
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      "text": "Furthermore, strong tourism flows should continue to aid activity in the retail trade and food and beverage sectors. Labor markets should continue to rebalance in 2024, but they will remain tight, underpinning household income growth and domestic demand.",
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      "text": "Monetary policy loosening should also stimulate interest rate-sensitive sectors like housing. Progress in multiyear projects in Malaysia and infrastructure targets in the Philippines should support the domestic economy. Meanwhile, comments from presidential hopefuls in Indonesia indicate continued support for public investment.",
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      "text": "In Malaysia and Thailand, a stable inflation outlook should support real incomes, underpinning private consumption, while household spending remains robust in the Philippines and Indonesia.",
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