Malaysia: GDP outperformed in Q1 – UOB – by pabspiovano Malaysia GDP Banks
Latest Q1 GDP figures in Malaysia surprised to the upside, note Senior Economist Julia Goh and Economist Loke Siew Ting at UOB Group.“Malaysia’s economy chalked up a robust growth of 5.6% y/y in 1Q23, which was better than our estimate and Bloomberg consensus . Nevertheless, growth momentum moderated further compared to 4Q22’s 7.1% y/y. On a seasonally adjusted basis, real GDP expanded 0.9% q/q .”
“Growth was anchored by domestic demand particularly private consumption and investments, while net exports added 2.1ppts to headline growth in 1Q23. All sectors expanded last quarter, led by services, manufacturing, and construction industries. The current account surplus narrowed to MYR4.3bn in 1Q23, from MYR27.5bn in 4Q22.”even though we are keeping an average GDP expansion of ~4.0% for the rest of the year.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philippines: GDP surprised to the upside in Q1 – UOBSenior Economist Julia Goh and Economist Loke Siew Ting at UOB Group assess the recently published Q1 GDP figures in the Philippines. Key Takeaways “T
Read more »
Malaysia: Jobless rate remained unchanged in March – UOBUOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting comment on the latest jobs report in Malaysia. Key Takeaways “Malaysia’s labour ma
Read more »
USD/THB: Further bounce appears likely – UOBMarkets Strategist Quek Ser Leang at UOB Group sees the likelihood of extra gains in USD/THB in the short-term horizon. Key Quotes “We highlighted las
Read more »
USD/CNH: Bias remains tilted to the upside – UOBExtra gains could encourage USD/CNH to challenge the 6.9750 level in the short term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Lea
Read more »
USD/JPY faces a solid resistance at 136.80 – UOBFurther upside could motivate USD/JPY to challenge the firm resistance at 136.80 in the near term, according to Economist Lee Sue Ann and Markets Stra
Read more »
EUR/USD now looks at 1.0800 – UOBThe negative view in EUR/USD remains unchanged for the time being, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang and UOB Group. Key
Read more »