Private consumption to drop sharply, mainly due to MCO

A police roadblock along Federal Highway during the MCO. - SAM THAM/The Star

KUALA LUMPUR: Growth in private consumption will likely drop sharply, due mainly to the movement control order (MCO), which was imposed since March 18 following the Covid-19 pandemic, BIMB Securities Research said.

In a report issued on Friday, it said from a short-term point of view, flagging consumer sentiments due to the virus outbreak will weigh on private consumption.