Malaysia Economic Outlook
April 16, 2019
The economy likely lost steam in Q1. Industrial production growth averaged notably lower in January and February compared to Q4, weighed down by a sharp contraction in mining output and a slowdown in manufacturing amid a more sluggish electronics sector. Moreover, exports declined notably in the same period in USD terms on lower exports of palm oil, while retail sales growth—albeit still robust—was down from the stellar readings observed in H2 2018, when sales were buoyed by a tax holiday. In addition, although the labor market remains healthy as reflected by an unemployment rate of just 3.3%, employment growth has ebbed so far this year. On the political front, in early April Malaysia and China agreed to relaunch a cheaper version of the East Coast Rail Link project, which had previously been cancelled by the Malaysian government. This bodes well for long-run growth and economic relations with China.Malaysia Economic Growth
Growth is seen dimming slightly this year amid a normalization in private consumption growth and a softer expansion in public consumption as the government looks to trim the fiscal deficit. Moreover, the external sector is seen softening amid a maturing tech cycle. Global trade tensions and uncertain economic dynamics in China pose downside risks. Our panel sees the economy growing 4.5% in 2019, which is unchanged from last month’s forecast, and 4.5% again in 2020.Malaysia Economy Data
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Malaysia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 3.93 | 0.15 % | Apr 22 |
| Exchange Rate | 4.13 | 0.0 % | Apr 22 |
| Stock Market | 1,622 | -0.29 % | Apr 22 |
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Malaysia Economic News
Malaysia: Inflation returns in March
April 24, 2019
Consumer prices rose 0.2% month-on-month in March, matching February’s figure and largely driven by higher transport prices. In year-on-year terms, consumer prices rose 0.2% in March, contrasting February’s 0.4% fall but slightly below market expectations.
Malaysia: Growth in industrial output eases in February
April 11, 2019
Industrial production grew 1.7% year-on-year in February, down from January’s 3.2% growth and marking an eight-month low.
Malaysia: Manufacturing conditions continue to worsen in March
April 2, 2019
The downturn in Malaysia’s manufacturing sector worsened in March, with the manufacturing Purchasing Managers’ Index (PMI) dropping to 47.2 from 47.6 in February.
Malaysia: Consumer prices continue to decline in February, albeit at reduced rate
March 22, 2019
Consumer prices rose 0.2% month-on-month in February, contrasting the 0.5% decline in January.
Malaysia: Growth in industrial output eases in January
March 14, 2019
Industrial production grew 3.2% year-on-year in January, which is slightly below December’s 3.4% result.
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