Malaysian businesses seen to slow down in fourth quarter

Source: Xinhua| 2019-11-28 19:05:23|Editor: Shi Yinglun
Video PlayerClose

KUALA LUMPUR, Nov. 28 (Xinhua) -- Malaysian businesses are expecting slower business performance in the fourth quarter of 2019, according to official survey Thursday.

According to Malaysian Statistics Department business tendency survey, the confidence indicators declined to -0.5 percent as compared to +3.1 percent in the previous quarter, as all sectors except the services sector, turned negative in the fourth quarter.

According to the survey, the construction sector remained negative with the confidence indicator registering -8.1 percent in the reference quarter.

The wholesale and retail trade sector also indicated a decline with the confidence indicator recording at -4.9 percent in the fourth quarter compared to -0.1 percent in the previous quarter.

The industry sector which covered agriculture, mining, manufacturing, water and electricity divisions also appeared less favourable with confidence indicators dropping to -2.2 percent from +0.7 percent recorded in the third quarter of 2019.

Meanwhile, the services sector lost momentum as businesses anticipated their business situation to grow at a slower pace with a smaller confidence indicator of +5.9 percent as against +11.5 percent in the previous quarter.