Home / International/ Malaysia’s first-quarter GDP growth seen cooling on weak demand, exports

Malaysia’s first-quarter GDP growth seen cooling on weak demand, exports


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 15 May 2019 00:56

Facebook

Boats float in front of the VOPAK oil storage terminal in Johor, Malaysia November 7, 2017 - Reuters

KUALA LUMPUR (Reuters): Malaysia’s economic growth pace likely slowed in the first quarter, due to tepid consumption and softer global demand as a result of the US-China trade war, a Reuters poll showed.

The poll of 13 economists predicted the economy will grow at a median rate of 4.3% in January-March, slower than the 4.7% pace of the fourth quarter.

Individual forecasts ranged from 4.2% to 4.5%.

Exports from Southeast Asia’s third-largest economy contracted in February and March, and will likely face sustained pressure in the coming months as the United States pursues another round of tariff increases on Chinese goods, Capital Economics said in a research note.

“Malaysia is one of the most vulnerable countries to a drop in US demand for Chinese goods, as a large exporter of intermediate goods to China,” Capital Economics said in a note on Friday.

China on Monday announced it would impose higher tariffs on $60 billion of US goods following Washington’s decision last week to hike its own levies on $200 billion in Chinese imports.

Malaysia’s 2018 full-year growth came in at 4.7%, just below the government’s forecast of 4.8% but far short of the 5.9% pace set a year earlier.

The fourth quarter’s better-than-expected 4.7% rate snapped a four-quarter streak of slowing growth, but Bank Negara Malaysia (BNM) has since said it expects expansion to moderate this year.

 


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

A case for reviewing plantation management

Thursday, 23 May 2019

Last week, I elaborated on ‘Going Beyond Agronomic Research for Plantation Reform’ with the aim of beginning a conversation on the importance of non-agronomic research to understand the many problematic areas that plague the plantation sector, in


How are we doing in e-government?

Thursday, 23 May 2019

It is customary to assess some aspect of the performance of a country using a composite index such as the Ease of Doing Business Index or the Network Readiness Index. For government services, there is the e-Government Development Index (EGDI), issued


National introspection in the aftermath

Thursday, 23 May 2019

“The immediate task for the Government is to guaranty the safety and security of all innocent Muslims and prevent a recurrence of 1983 … One cannot eradicate one evil with another” – Anatomy of an Islamist Infamy (III), CT, 9 May. In this, th


AI + BI + CI x DI = Empowering, enriching and impacting society and environmental wellbeing

Thursday, 23 May 2019

There has never been a time like today where many are raising concerns for society’s wellbeing, survival and thriving, despite many progressive advancements in the digitally transformed world. We are already in the so-called Fourth Industrial Revo


Columnists More