Don’t look at export growth only, consumption figures are also important

WHEN Minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop said GDP for the second quarter would be a high single-digit number, the existing data suggests that his assumption should be spot on.

Industrial production for the two months in the second quarter was still robust with the latest data – a strong 12.5% in May – an indication that the domestic economy was still strong.