Domestic consumption picks up the slack

THE good news continued to roll in over the week, with Malaysia being the latest economy from Asia to report an increasingly rosier outlook. While the numbers may not appear encouraging, particularly with a gross domestic product (GDP) contraction of 3.9% year-on-year (y-o-y) for the second quarter to June, they managed to beat market expectations.

What’s more, the latest figure from Bank Negara confirms that the country’s economy has started to pick up already.