RHB Research lifts 2017 GDP growth forecast to 5.6%

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KUALA LUMPUR (Nov 20): RHB Research Institute said Malaysia’s real GDP grew by a stronger 6.2% year-on-year (y-o-y) in 3Q17, versus +5.8% in 2Q17, on the back of stronger external activities and overall domestic demand.

In an econmonic update today, the research house said that on the back of a stronger-than-expected growth in 3Q17, it lifted its GDP forecast for 2017 to 5.6%, from +5.3% previously.

“As for 2018, we trim our forecasted growth to 5.2% on the back of a higher base in 2017, as well as a slowdown in public spending and investment.

“However, growth would continue to be supported by sustained growth in domestic demand, as strong export growth would trickle down to consumer spending and private investment,” it said.