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Malaysia GDP may have expanded 11.1% in 1Q, says DBS Economics |
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Business & Market 2010
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Written by DBS Bank Ltd group research
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Friday, 30 April 2010 13:33 |
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KUALA LUMPUR: Malaysia’s first quarter GDP growth data to be released in May could possibly post an upside surprise relative to the current conservative forecast in the market, says DBS Bank Ltd group research.
"We expect the economy to expand by about 11.1% year-on-year in 1Q10, fuelled by strong export demand from Asia as well as the current cyclical upswing in electronics," it said in a research note issued on Friday, April 30.
On top of an export sector running at full throttle, domestic consumption and investment will provide additional support.
Full year 2010 GDP growth is now expected to register 8.0%, up from our previous projection of 5.7%. Plainly, with growth this strong, there will be added impetus for the central bank to continue with its monetary normalisation process.
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