Among the developing regions, East, South
and South-East Asia are expected to experience the
highest growth rates in 2013, of 6.1 per cent, 4.3 per
cent and 4.7 per cent, respectively. I n most of these
countries, growth is being driven essentially by
domestic demand. I n China, the contribution of net
exports to GDP growth was negligible, while fixed
investment and private consumption, as a result
of faster wage growth, continued to drive output
expansion. E ncouraged by various incomes policy
measures, domestic private demand is also supporting
output growth in a number of other countries in
the region, such as I ndia, I ndonesia, the Philippines
and Thailand (ESCAP, 2013). I n addition, along with
GDP growth, credit to the private sector has tended
to rise, further supporting demand.