Pacific Rim Countries’ Economies Expected to Grow 3.5% This Year

Economies of the Pacific Rim countries are quickly accelerating out of the recession, with annual growth expected to reach 3.5% this year and 4.7% next year, forecasters said Sunday.

While the big economies of Japan and the United States recover more slowly, Asia’s “four tigers”--Hong Kong, Korea, Singapore and Taiwan--will lead the way with 1992 growth of 5.4% to 8.6%, said the Pacific Economic Cooperation Council in its fifth annual economic report.

“The rest of the train is pushing the engines,” said Lawrence Krause, coordinator of the outlook compiled from reports by leading economists in 17 countries that rim the Pacific Ocean. He spoke at a news conference releasing the report.

For the first time, reports on three Latin American countries--Mexico, Chile and Peru--also were included because they have joined in trade and investments around the rim.

The report predicts U.S. growth at a slow 1.6%, increasing to 4.1% by 1993, and Japanese growth at 2.5%, increasing to 3.2%. The figures are adjusted to discount gains due only to inflation.