The OECD's Asian Business Cycles Quarterly is a useful snapshot of the region. The latest update is headlined 'ASEAN Recovery Gains Momentum' & highlights the following;

• The recovery continued to gain momentum across ASEAN countries in the first five months of 2010. Many countries that experienced sluggish growth before, have now entered an expansionary phase of the cycle. Singapore and the Philippines are registering robust rebounds. Thailand, where political uncertainty had constituted an important downside risk to recovery, is also showing healthy expansion. The expansion of Indonesia and Malaysia are similarly robust.
• In general, prospects for continued expansion in Southeast Asia are bullish in the next few months. Prospects for emerging Asia will depend on China’s growth path which is showing some signs of slowing.
• A special feature of the political background is that it does not have a significant impact on the recovery, notwithstanding the change of Minister of Finance in Indonesia, the presidential elections in the Philippines and internal political upheaval in Thailand.

Click here to read the report in full. http://www.oecd.org/dataoecd/27/21/45623832.pdf