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BENGALURU- Malaysia’s economy probably grew at a moderate annual pace in the third quarter, as strong expansion in private consumption offset declining exports, Reuters poll found.
The Southeast Asian economy grew 3.0 percent in the July-Sept. period on an annual basis, according to the median forecast of 20 economists in a Nov. 8-14 poll, slightly faster than 2.9 percent in the previous quarter.
Forecasts ranged from 1.7 percent to 3.5 percent . Data is set to be released on Friday.
“The Malaysian economy continues to be supported by a resilient domestic sector. This will help offset weakness in the export sector, which has been weighed down by tepid global growth,” said Denise Cheok, economist at Moody’s Analytics.
“Global conditions remain uncertain going into 2024. The key risks to the outlook are a resurgence of inflation, and the uncertainty surrounding the recovery in China’s economy.”
Malaysian trade is heavily dependent on China and remained sluggish last quarter but signs of a Chinese economic recovery hint at a potential upturn. – Reuters
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