![]() ![]() Malaysia's services sector is expected to have suffered during the quarter after the disappearance of the MAS airliner with 239 people onboard - most of them Chinese nationals. In 2015 we foresee that growth would still be strong but at a reduced pace of 5.1 percent," he said. "Another 25 bps hike would affect growth. "Growth and domestic consumption are still strong and this can be a double edged sword," said Weilian Wiranto, an economist with OCBC in Singapore. Most economists expect another hike of 25 basis points (bps) this year, and possibly as early as September. The central bank hiked interest rates from 3.0 percent to 3.25 percent in July, in a further effort to tackle "imbalances" such as high household debt. Bank Negara introduced measures last year to cool the property market, tightening loan-to-value ratios and ending a widely used developer incentive scheme for buyers. It slowed to 7.9 percent in June.įactory output picked up from 4.2 percent in April to 7.0 percent in June.ĭomestic demand has underpinned Malaysia's robust growth, but economists expect consumer spending to cool somewhat this year as the central bank tightens up on lending. The economy is likely to expand 5.5 percent in 2014, according to the poll, higher than previously expected after strong exports and solid industrial production lifted growth in the first quarter.Įxports, especially electronics, have supported the growth momentum, although volatility in oil and gas exports has affected trade.Įxports grew 18.9 percent in April, nearly twice what economists had expected, buoyed by strong demand for electronics. The forecasts ranged from 5.0 to 6.3 percent. KUALA LUMPUR: Malaysia's robust economy probably slowed in the second quarter as export growth eased and consumers began to feel the effects of central bank measures to limit the rapid rise in household debt, while tourism suffered from the negative image cast by the disappearance of Malaysia Airlines Flight MH370.Įconomists polled by Reuters expected gross domestic product to rise 5.8 percent from a year earlier, down from 6.2 percent in the first quarter. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |