Malaysia’s economy to grow 4.5% in 2013

Malaysia’s GDP is expected to grow at a relatively moderate pace of 4.5 per cent next year, mainly due to lacklustre global demand amid a softer commodity outlook, says Hong Leong Investment Bank Research in a latest report.

The bank says while it remains confident that construction as well as oil and gas projects will help boost domestic sources of growth, the weaker global demand, especially for commodities, is expected to weigh in on Malaysia’s external sector.

Household consumption growth is also expected to soften in 2013 as asset inflation wanes, while an income boost from high commodity prices disappears. In the trade sector, Hong Leong expects export prices of commodities to come under pressure in 2013, given the subdued global demand, particularly weak demand from China as its economic growth remains in soft patch.

“With the assumption of lower commodity prices for 2013, Malaysia’s exports in nominal terms will be affected,” the research house said in its 2013 Economic Outlook report released on November 6.

Malaysia’s prime minister Datuk Seri Najib Razak had announced earlier this year that the government expects the Malaysian economy to grow between 4.5 per cent to 5.5 per cent in 2013.



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Malaysia's GDP is expected to grow at a relatively moderate pace of 4.5 per cent next year, mainly due to lacklustre global demand amid a softer commodity outlook, says Hong Leong Investment Bank Research in a latest report. The bank says while it remains confident that construction as well as oil and gas projects will help boost domestic sources of growth, the weaker global demand, especially for commodities, is expected to weigh in on Malaysia's external sector. Household consumption growth is also expected to soften in 2013 as asset inflation wanes, while an income boost from high commodity prices disappears....

Malaysia’s GDP is expected to grow at a relatively moderate pace of 4.5 per cent next year, mainly due to lacklustre global demand amid a softer commodity outlook, says Hong Leong Investment Bank Research in a latest report.

The bank says while it remains confident that construction as well as oil and gas projects will help boost domestic sources of growth, the weaker global demand, especially for commodities, is expected to weigh in on Malaysia’s external sector.

Household consumption growth is also expected to soften in 2013 as asset inflation wanes, while an income boost from high commodity prices disappears. In the trade sector, Hong Leong expects export prices of commodities to come under pressure in 2013, given the subdued global demand, particularly weak demand from China as its economic growth remains in soft patch.

“With the assumption of lower commodity prices for 2013, Malaysia’s exports in nominal terms will be affected,” the research house said in its 2013 Economic Outlook report released on November 6.

Malaysia’s prime minister Datuk Seri Najib Razak had announced earlier this year that the government expects the Malaysian economy to grow between 4.5 per cent to 5.5 per cent in 2013.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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