- Analytics
- News and Tools
- Market News
- Malaysia: Solid prints from the Q2 GDP – UOB
Malaysia: Solid prints from the Q2 GDP – UOB
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting review the latest GDP figures in Malaysia.
Key Takeaways
“Real GDP growth improved further to 8.9% y/y (1Q22: +5.0%) which was ahead of Bloomberg consensus (7.0%) but below ours (9.5%). On a seasonally adjusted quarter-on-quarter basis, real GDP rose by 3.5% (1Q22: +3.8%).”
“Key sectors of growth include services (12.0%), manufacturing (9.2%), and construction (2.4%), while agriculture (-2.4%) and mining (-0.5%) contracted. Domestic demand was the main contributor to overall GDP owing to further lift from private consumption (18.3%), private investments (6.3%), and government spending (2.8%).”
“Despite multiple external headwinds, we remain positive on the economic outlook in 2H22 with low base effects and the country’s ongoing transition into endemicity. Nevertheless, the pace of growth is expected to soften as the one-off cash aid from EPF withdrawals wane, effect of higher inflation and interest rates, as well as heightened external risks. Given the strong GDP print of 6.9% in 1H22, we upgrade our full-year GDP estimate to 6.5% for 2022 (vs. 5.5% previously, BNM est: 5.3%-6.3%). We maintain our forecast of 4.8% for 2023.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
