Will an economic recovery take hold in Asia this year? Most Asians aren't betting on it. According to a survey of consumer confidence conducted by ACNielsen in December, more than 50% of people polled across the region aren't expecting a recovery until the first quarter of 2003. The dour sentiment means that more of them plan to keep their checkbooks locked up for another six months. That fear is at odds with the outlook of many regional economists, who believe Asia's economies already have bottomed out and are set for a recovery in the second half of this year. Positive news about reduced inventories and a widely forecast jump in production have forced many economists to revise their growth forecasts upward.
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