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UBS cuts Malaysia GDP growth forecast
by hlk Thu 25 Aug 2011, 17:35
Southeast Asian economies may grow less than previously forecast in 2011 and 2012 on weaker global growth and financial-market conditions, UBS AG said.
The brokerage cut its 2011 gross domestic product growth forecast for Singapore to 4.5 percent from 5.5 percent and lowered its 2012 GDP growth estimate to 3 percent from 5 percent, Edward Teather, economist at UBS, wrote in a report dated today.
The analyst also reduced forecasts for Malaysia, Thailand, and the Philippines, while leaving Indonesia targets unchanged.
“The downward revisions to global and ASEAN growth adds weight to the notion that inflation fears will dissipate in coming months,” the analyst wrote. -- Bloomberg
The brokerage cut its 2011 gross domestic product growth forecast for Singapore to 4.5 percent from 5.5 percent and lowered its 2012 GDP growth estimate to 3 percent from 5 percent, Edward Teather, economist at UBS, wrote in a report dated today.
The analyst also reduced forecasts for Malaysia, Thailand, and the Philippines, while leaving Indonesia targets unchanged.
“The downward revisions to global and ASEAN growth adds weight to the notion that inflation fears will dissipate in coming months,” the analyst wrote. -- Bloomberg
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