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    Quarterly Update of the ASEAN+3 Regional Economic Outlook (AREO) – July 2025 – ASEAN+3 Macroeconomic Research Office

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    US Tariffs Cloud ASEAN+3 Outlook; Regional Integration Gains Urgency

    In the July 2025 update of the AREO, AMRO forecasts the ASEAN+3 region to grow at region to grow at 3.8 percent in 2025 and 3.6 percent in 2026. Reflecting heightened global uncertainties, particularly the evolving US tariff measures, the growth forecasts represent a downward revision from AMRO’s April projections of 4.2 percent in 2025 and 4.1 percent in 2026 which did not include the impact of then
    newly-announced US tariffs.

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