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. In most of these
countries, growth is being driven essentially by
domestic demand. In 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, Indonesia, the Philippines
and Thailand (ESCAP, 2013). In addition, along with
GDP growth, credit to the private sector has tended
to rise, further supporting demand.