Election Pushes, Slower Global Demand Pulls Second quarter economic growth in Malaysia came in under expectations largely, we think, because of the impact of slower Chinese growth on Malaysian exports. Q213 GDP growth came in at 4.3% year-on-year (y-o-y), half a point down on Bloomberg consensus forecasts of 4.8%. BMI believes we have yet to see the worst of China’s economic slowdown, meaning that Malaysia’s export drive will remain somewhat subdued. While net exports are acting as a drag on growth, there are still some bright spots in the country’s outlook, with both investment and domestic consumption looking strong. Construction …
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