Economic Update - Real GDP Surged In The 1Q, But Growth Will Likely Slow Down In The 2H - 11/5/2010

We estimate that the Malaysian economy is likely to have grown at a much faster pace of around 8.3% yoy in the 1Q, the strongest in a decade, due partly to a surge in exports and partly to a low base effect. Growth, however, will likely slow down in the 2H of the year, in line with a slower global economic growth. As a result, we expect real GDP growth to weaken to 4.8% yoy in 2H 2010, from +8.0% in the 1H. Overall, real GDP is envisaged to recover to +6.4% in 2010, from -1.7% in 2009.

Economic Update - Real GDP Surged In The 1Q, But Growth Will Likely Slow Down In The 2H - 11/5/2010