Malaysia GDP growth to slow down in Q2

Dhaka,  Sun,  24 September 2017
Published : 17 Aug 2017, 14:46:57

Malaysia GDP growth set to slow to 5.4 pc in Q2

Malaysia GDP growth to slow down in Q2
Malaysia's economy is expected to have grown at a slightly slower pace in the second quarter due to weaker private consumption, even as trade remained robust.

Southeast Asia's third-largest economy likely grew 5.4 per cent in April-May from a year earlier, easing from 5.6 per cent in the first quarter, according to a Reuters poll.

Growth in the first quarter was the strongest in two years, but the pace has been expected to fade, Vaninder Singh of NatWest Markets said in a note last week.

Cement production had slumped 17.1 per cent over March-May, compared with 9.6 per cent growth in the previous three-month period, he said.

Crude oil prices have also skidded around 10 per cent so far this year, after several failed attempts to rally. Malaysia is a significant oil and gas producer in the region.

Malaysian households have high levels of debt, which Capital Economics estimate to be equivalent to around 90 per cent of GDP, according to Reuters.
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