Bank Negara revises 2018 GDP downwards to 5pc

AmBank Research expects Bank Negara Malaysia

KUALA LUMPUR: Bank Negara Malaysia has revised downwards the country’s full-year gross domestic product (GDP) growth for 2018 to 5% from the 5.5%-6.0% projected earlier due to prolonged disruptions in oil and gas production, and low production in the agriculture sector.

Bank Negara governor Datuk Nor Shamsiah Mohd Yunus, however, said growth was supported by strong business and consumer sentiments, strong consumer spending due to the tax holiday from June to August, and expansion in manufacturing production capacity.

She said this at a press conference on Malaysia’s second quarter GDP growth here today.- Bernama