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Business surveys point to muted growth in near term.
Manufacturing figures this week pointed to a more muted growth rate over the next year.
Alan Clarke, economist at Scotiabank highlighted the 14% year-on-year rise in fuel sales, contrasting with only muted growth in food store sales.
But the effect proved to be muted: growth slowed to a 3.5percentt annual rate in the first quarter of 2003, then bounced back to 3.8percentt in the second quarter.
After relatively muted growth last year, when the region expanded by 6.1 percent, developing Asia is expected to pick up speed again with growth of 6.6 percent this year and 6.7 percent next year, according to the bank's projections.
WHEN we made our annual foray into the executive pay gold mine in April, chief executives' earnings for 2012 showed what appeared to be muted growth on the year.
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Meanwhile, more efficient use of energy and muted economic growth means electricity growth nationally is essentially flat.
"The sector will need to adjust to the prospect of muted revenue growth," the report says.
Rising unemployment, muted wage growth and uncertainty would also hit consumer spending, it added.
Unemployment is low, inflation is muted and growth has continued unabated for nearly 10 years.
The sector has also been pressured by muted wage growth and government austerity measures that are squeezing household budgets.
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CEO of Professional Science Editing for Scientists @ prosciediting.com