“Malaysia GDP” dropped to 2.9% in Q2, slowest growth in nearly 2 years.
On August 18, 2566, The Business Times news agency reported that the Central Bank of Malaysia said Malaysia's economy grew 2.9% slower in the second quarter from a year earlier. due to decreased exports
The economy expanded less than 5.6% in the first quarter and was still below the 1% growth forecast by a group of economists in a recent Reuters poll, which was the slowest growth in the world. 3.3 quarter cycle
At a press conference, Abdul Rasheed Ghaffour, the new governor of Bank Negara Malaysia, attributed the slowdown in growth to weaker external demand amid the global technology cycle. Declining commodity production and high impact from last year
“There could be downside risks to Malaysia's growth outlook due to concerns about a slowing global economic outlook. and a weaker-than-expected recovery in the Chinese economy.”
For example, the US debt ceiling crisis. which occurred in May This, together with continued tight monetary policy in many advanced economies, has had an impact on the world's emerging markets, including Malaysia.
Adding that During this time Falling commodity prices and global semiconductor demand have also affected Malaysia's financial markets.
In view of the global trend of slowing down Economists are lowering their forecasts for Malaysia's gross domestic product (GDP) growth this year. UOB and OCBC revised their full-year GDP forecasts to 4% from 4.4% previously.
UOB economists Julia Goh and Loke Siew Ting said Malaysia's economic growth was on an easing trend from its peak in the third quarter of last year.
