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NewsMalaysia Q1 GDP growth revised to 5pc
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Malaysia Q1 GDP growth revised to 5pc
by hlk Thu 12 May 2011, 14:17
AmResearch Sdn Bhd has revised upwards Malaysia's first quarter Gross
Domestic Product (GDP) growth to five per cent from its earlier
prediction of 4.5 per cent, but maintained its forecast of 5.5 per cent
growth for the year.
The upwards revision was supported by recent trade and industrial
output data, which suggested healthy growth in the manufacturing and
services sectors, said its economist Manokaran Mottain.
Bank Negara Malaysia (BNM) is scheduled to release the first quarter GDP figures on May 18, 2011.
The March Industrial Production Index gained 2.4 per cent,
year-on-year (YoY), and on a month-on-month basis rebounded strongly by
12.1 per cent.
In particular, manufacturing output rose 5.3 per cent, YoY, which
reflected the trend observed in recent trade figures, he said in a
research note today.
Malaysia's exports and imports grew 7.8 per cent, YoY, and 12.1 per cent ,YoY, respectively, in March.
The growth in the first quarter was also supported by a recent move
by BNM to hike the Overnight Policy Rate (OPR) to 3.0 per cent, to the
least expectations of most analysts and economists.
"We are more confident growth will gather momentum to register a
trend-wise growth rate of 6.0 per cent by the final quarter of the
year," said Manokaran who based his optimism on projects under the
Economic Transformation Programme and 10th Malaysian Plan picking up steam in the second-half of the year. - Bernama
l
Domestic Product (GDP) growth to five per cent from its earlier
prediction of 4.5 per cent, but maintained its forecast of 5.5 per cent
growth for the year.
The upwards revision was supported by recent trade and industrial
output data, which suggested healthy growth in the manufacturing and
services sectors, said its economist Manokaran Mottain.
Bank Negara Malaysia (BNM) is scheduled to release the first quarter GDP figures on May 18, 2011.
The March Industrial Production Index gained 2.4 per cent,
year-on-year (YoY), and on a month-on-month basis rebounded strongly by
12.1 per cent.
In particular, manufacturing output rose 5.3 per cent, YoY, which
reflected the trend observed in recent trade figures, he said in a
research note today.
Malaysia's exports and imports grew 7.8 per cent, YoY, and 12.1 per cent ,YoY, respectively, in March.
The growth in the first quarter was also supported by a recent move
by BNM to hike the Overnight Policy Rate (OPR) to 3.0 per cent, to the
least expectations of most analysts and economists.
"We are more confident growth will gather momentum to register a
trend-wise growth rate of 6.0 per cent by the final quarter of the
year," said Manokaran who based his optimism on projects under the
Economic Transformation Programme and 10th Malaysian Plan picking up steam in the second-half of the year. - Bernama
l
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