img-news

MALAYSIAN MANUFACTURING POINTS TO SLOWER GDP GROWTH

  • Regular
  • Asian Market
  • 1 week ago
  • 14

Malaysian industrial production growth slowed to 2.2% year-on-year in that month from 2.6% in July.
Key Quotes
“The outcome was slightly weaker than the consensus, which centred on 2.3% growth, with estimates ranging from our low-end 1.6% to 4.5% YoY.”
“Manufacturing and utilities dragged headline IP growth lower, while mining continued to contract albeit at a more moderate rate than in July.”
“Both exports and production growth are slowing on a trend basis (see figure), which will be associated with a slowdown in GDP growth. The high base-year effect also has been in play in driving the GDP slowdown.”
“We expect GDP growth to settle around 4% in the second half of the year, for a full-year average growth of 4.5%. Our forecast for 3Q remains at 4.1%.”

Source : ING