Malaysia’s Q2 GDP posts largest growth in over 2 years
The unexpected growth in economy at 5.8% followed a 5.6% rate recorded in Q1 of this year and beat the previous expectations for a growth of 5.4%. It was attributed to rising consumer demand and revived manufacturing in the country.
Consumer spending surged 7.1% in the second quarter from a year earlier, the data revealed, while investments expanded 7.4% from a year earlier. Exports of Malaysia were up by 9.6% while imports climbed 10.7% in the second quarter.
Services sector posted an increase of 6.3% while manufacturing growth was up by 6% in the period year on year. The agriculture sector also grew 5.9%.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- China PP price uptrend intact after holidays despite local supply pressure
- Saudi PP, PE markets reverse course in Feb after 8 months, maintenance schedule busy in Mid-East
- Freight carriers aim to manage supply-demand balance by blanking more sailings
- PP and PE markets set to rebound from two-year lows in Europe
- PET sellers hunt for signs of market bottom in Europe
- India’s import PP, PE markets rebound in Jan after several months of declines
- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey