KUALA LUMPUR (June 4): RHB Research Institute Sdn Bhd has revised its Malaysia’s exports growth forecast in 2019 lower to 2.2%.
In an economic update today, the research house said Malaysia’s exports rebounded in April after contracting in the previous two months, partly aided by a weaker ringgit (MYR).
It said overall momentum continues to remain weak, and could likely worsen further on intensification of US-China trade tensions and an expected slowdown in global growth.
“In light of recent negative developments on the global trade front, we revise our export growth projection lower to 2.2% in 2019.
“This will likely pose a drag to our present GDP forecasts of 4.6% and 4.8% for 2019 and 2020,” it said.