South-East Asia digital economy slows as consumers curb spending

SINGAPORE (Bloomberg): Growth in South-East Asia’s internet economy is slowing after years of expansion, showing that even emerging digital markets aren’t immune to economic headwinds.

Online spending in the region will rise about 20% this year to US$200 billion, research from Google, Temasek Holdings Pte and Bain & Co. showed, slowing from 38% a year earlier. The region’s internet economy is set to reach $330 billion by 2025, according to the report, down from a previous forecast of $363 billion.