MYR 2Q GDP 2012

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what will you expect of the 2Q GDP

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MYR 2Q GDP 2012

Post by Cals on Sun 12 Aug 2012, 20:10

release of 2Q 2012 data

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Re: MYR 2Q GDP 2012

Post by Cals on Sun 12 Aug 2012, 20:14

from malaysianinsider
By Lee Wei Lian August 10, 2012
KUALA LUMPUR, Aug 10 — Malaysia’s second-quarter real GDP growth is estimated to have slowed for the third quarter in the row at 4.2 per cent compared with 4.7 per cent in the first quarter as exports weakened, said RHB Research Institute today.

This comes as China reported that its export growth collapsed in July amid signs the global economy continues to struggle.

RHB said in a report that Malaysia’s exports were hit by weaker demand from the Eurozone and the US, and domestic demand was likely to have also moderated during the quarter, after expanding at a strong pace in the first quarter owing to softer consumer spending.

“Given the external headwinds, we expect economic growth to remain weak in the near term, but prospects are likely to gradually improve towards the end of the year, as global economic uncertainties clear out with China showing more signs of bouncing back,” said RHB.

On the positive side, RHB said that domestic demand growth while relatively robust still was estimated to have grown at a slower pace of 7.2 per cent year-on-year in the second quarter after expanding strongly by 9.6 per cent in the first quarter.

“Despite the moderation, growth remained relatively strong, on the back of resilient private-sector spending and a sustained increase in public-sector expenditure,” said RHB.

It said growth in consumer spending was estimated to have moderated to 6.2 per cent year-on-year in the second quarter compared with 7.4 per cent in the first quarter as the effects of the Government’s handouts to selected groups of households and population gradually faded.

RHB said that it expected real gross domestic product to improve gradually and expand at a slightly faster pace of 4.6 per cent year-on-year in the second half of 2012, compared with 4.4 per cent estimated for the first half.

It said growth in consumer spending would likely remain resilient thanks to high savings, rising consumer spending and favourable labour market conditions.

China reported that its exports grew just 1.0 per cent in July from a year earlier, which was far below market expectations for an 8.6 per cent increase, reinforcing worry that the world’s second-largest economy was headed for trouble.

The manufacturing powerhouse also saw its second-quarter growth slow to its lowest pace since 2009 — down to 7.6 per cent versus 8.1 per cent in the first quarter.

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Re: MYR 2Q GDP 2012

Post by Cals on Mon 13 Aug 2012, 19:29

from moody's it is expected to be around 5%

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