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Malaysia’s GDP likely to remain in contraction in Q3 2020, says RHB Investment Bank | Malay Mail

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KUALA LUMPUR, Aug 14 — While the worst is over for Malaysia considering the restrictions have eased, gross domestic product (GDP) growth will still likely remain in contraction in the third quarter (Q3) this year, says RHB Investment Bank Bhd. In a note today, it said the economy is still running...

Friday, 14 Aug 2020 05:59 PM MYT

KUALA LUMPUR, Aug 14 — While the worst is over for Malaysia considering the restrictions have eased, gross domestic product growth will still likely remain in contraction in the third quarter this year, says RHB Investment Bank Bhd.“In addition, the risk of subsequent waves of Covid-19 could bring back stricter measures, which could derail growth momentum going forward.Malaysia’s real GDP growth contracted 17.

“From the GDP data, tourism-related sectors seemed to bear the worst brunt of the government-imposed lockdown. On the expenditure side, significant contraction is seen in private consumption, investment and net exports but these are offset by marginal contribution from the positive government consumption during the period, said the investment bank.

 

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