Malaysia's GDP growth rate expected to slow to 4.4 pct in Q1

Source: Xinhua| 2019-05-14 14:39:10|Editor: mingmei
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KUALA LUMPUR, May 14 (Xinhua) -- Malaysia's gross domestic product (GDP) growth rate in the first quarter was estimated to slow to 4.4 percent amid declines in all segments, according to analysis Tuesday.

Maybank Investment Bank Research said in a report that there were plenty of signs of slower growth, with supply-side data pointing to a deceleration in the first GDP growth to moderate on slower gains in services, manufacturing and construction amid declines in mining and rebound in agriculture.

Demand-side indicators also point to slower growth in both domestic demand (consumer spending, government spending, investment) and net external demand, it added.

Malaysia will release its first-quarter GDP on Thursday. The country's economy grew at 4.7 percent in the fourth quarter last year.

Maybank full-year real GDP growth forecast stands at 4.7 percent, the same growth rate as last year.

In a separate report, Hong Leong Investment Bank Research maintained its growth estimation at 4.4 percent in the first quarter, following the release of various indicators.

"The moderation is expected to be driven by broad-based moderation across most sectors, larger contraction in mining index that offset the rebound in the agriculture sector," said the research center.

It maintained its 2019 GDP at 4.6 percent, but warned that the recent escalation of trade frictions poses a downside risk to its forecast as a prolonged trade dispute would lead to a further pullback in investment and trade activities.

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