Economic Research | 12 February 2018 | |||
Malaysia | ||||
Economic Update | ||||
4Q17 Economic Activity Remains Healthy Despite Slowdown Malaysia‘s industrial activities eased in Dec 2017 to its slowest pace in 20 months. The slowdown was mainly due to a decline in mining output, while manufacturing activity decelerated during the month. The Industrial Production Index (IPI) grew by a slower pace of 3.7% YoY in 4Q17, from +5.8% in 3Q. This suggests that 4Q17’s real GDP could have slowed to around 5.6% YoY, from +6.2% in the previous quarter. As a result, the full-year growth would likely surpass our estimate of 5.6% YoY slightly, to record a growth of 5.8% YoY. Looking forward, we are keeping our real GDP forecast for 2018 and expect the country to chart a more moderate growth of 5.2% during the year. This is on the back of slower export growth after a surge in 2017 and a slowdown in public spending, in line with the Government’s fiscal consolidation drive. However, real GDP growth would remain supported by resilient domestic demand, backed by relatively strong consumer spending and private investments during the year. Economists: Vincent Loo Yeong Hong | +603 9280 2172 Aris Nazman Maslan | +603 9280 2184 | ||||
To access our recent reports please click on the links below: 08 Feb: Exports ease in december but cap a robust year 02 Feb: M3 And Loans Growth Looks To Accelerate In 2018 26 Jan: BNM Raises Rates Amid Strong Economic Activity 24 Jan : 2017 Inflation – Highest In Nine Years 23 Jan : Consumer Confidence Strongest In Three Years 11 Jan : Stronger Manufacturing Activity Lifts IPI in November | ||||
Economics Team | ||||
Arup Raha | Group Chief Economist | +65 6232 3896 | ||
Peck Boon Soon | Chief ASEAN Economist | +603 9280 2163 | ||
Vincent Loo Yeong Hong | Malaysia, Vietnam, | +603 9280 2172 | ||
Ng Kee Chou | Singapore, Thailand | +603 9280 2179 | ||
Rizki Fajar | Indonesia, Philippines | +6221 2970 7065 | ||
Aris Nazman Maslan | Malaysia, Vietnam | +603 9280 2184 | ||
Monday, February 12, 2018
FW: RHB | Malaysia | 4Q17 Economic Activity Remains Healthy Despite Slowdown
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