- Goldman Sachs’ chief Asia economist Andrew Tilton told CNBC’s “Street Signs Asia” he is “reasonably upbeat” on the economic recovery going into 2021.
- He said: “We think Asia’s really the best positioned of the major regions right now, just given the good control of the virus in most of the regions outside of India and some parts of Southeast Asia.”
- He said purchasing managers indices were better in September, suggesting momentum in the industrial sector remained strong.
- He said a fiscal deal in the US between Republicans Democrats would bolster growth in Asia.
- A blue wave scenario where a Democratic president takes control of both the House and Senate would bolster growth but may also “pull forward” the timing of the next Fed rate hike,” he said.
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Asia is far better “positioned” to stage an economic recovery from the pandemic,