PETALING JAYA: United Overseas Bank (Malaysia) Bhd has raised its forecast for Malaysia’s gross domestic product (GDP) growth this year to 5% from 4.3% previously, echoing similar upgrades by a cluster of economists last week.
CIMB Research and Hong Leong Investment Bank had revised up their estimates to 5% and Goldman Sachs to 4.6% after the country posted a stronger-than-expected 5.4% rise in second quarter GDP that was underpinned by an expansion in manufacturing and robust domestic demand.
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