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Malaysia’s economic growth slows down in Q1

by ChemOrbis Editorial Team -
  • 13/05/2016 (16:54)
According to media reports, Malaysia’s economy posted its slowest rate of growth in more than six years on the back of weaker exports and lower private investment. In the first quarter, the country’s gross domestic product (GDP) expanded 4.2% on the year following a 4.5% climb in the previous quarter, missing an average estimate of 4% in a Bloomberg News survey.

The Malaysian economy was dragged down by lower business investments due to rising costs and lower oil prices. As a part of their efforts to boost growth, Malaysia’s central bank kept its benchmark rate unchanged in March despite accelerating inflation.

The economy is likely to expand 4% to 4.5% this year in line with the government’s projections. On the other hand, the government expects inflation to rise between 2.5% and 3.5% in 2016.
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