Malaysia's economy is expected to have contracted for the first time in more than a decade in the first quarter as the coronavirus crisis shattered private consumption and external demand.
KUALA LUMPUR - Malaysia’s economy is expected to have contracted for the first time in more than a decade in the first quarter as the coronavirus crisis shattered private consumption and external demand.
Individual forecasts ranged from GDP growth of 0.8% to a decline of 4.2%. The GDP data is due on Wednesday. Malaysia’s statistics department delayed the release of March’s factory output data to Tuesday. No reason was given, but economists expect industrial production to have fallen sharply as most factories and businesses were ordered to stop operations to curb the spread of the virus.In April, Malaysia’s central bank had forecast the economy to either shrink by up to 2% or grow marginally by 0.5% this year due to the pandemic, stressing that “great uncertainty remains”.
France Dernières Nouvelles, France Actualités
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