Wednesday, December 10, 2008

Global economic weakness to hurt Malaysian exports and economic growth in 4Q

KUALA LUMPUR: Current global economic weakness is expected to hurt Malaysian exports and economic growth further in the final quarter (4Q) of 2008.

In a note, ECM Libra said the nation's fourth quarter real export growth might decline by 9.1% from a year earlier, resulting in a slower real gross domestic product expansion of between 1.3% and 1.5% compared to the annual GDP growth of 4.7% in the preceding third quarter (3Q).

"To be sure, Malaysia was not the only country in the region which experienced a big decline in exports in October 08. Both Taiwan and Singapore registered a sharp drop in exports as well.

"As for Indonesia, Thailand and South Korea, their export growth in October 08 had also declined rather significantly," said ECM Libra.

Source: Edge Daily

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