Economic Highlights : Real GDP Picked Up Strongly By 10.1% Yoy In The 1Q, But Growth Will Likely Slow Down In The 2H - 13/05/2010

The Malaysian economy grew at a much faster pace of 10.1% yoy in 1Q 2010, the strongest in a decade and after returning to a growth of 4.5% in the 4Q of last year, due partly to a pick-up in exports and partly to a low base effect. In view of the stronger-than-expected growth in the 1Q, we are revising upward our real GDP forecast for 2010 to 6.8%, from +6.4% projected previously and compared with -1.7% in 2009. Growth, however, will likely slow down in the 2H of the year, in our view, in tandem with a slower global economic growth. As a result, we expect real GDP growth to weaken to 4.8% yoy in 2H 2010, from +8.8% in the 1H.

Economic Highlights : Real GDP Picked Up Strongly By 10.1% Yoy In The 1Q, But Growth Will Likely Slow Down ...