MALAYSIA’S first quarter (1Q20) GDP data released on Wednesday, which came in at 0.7% year-on-year (y-o-y) growth was way above expectations as the market was looking at a contraction of 1% for the period.
The stronger than expected Q1 data was boosted by perhaps a smaller than expected drop in the services and manufacturing sectors, although the pace of growth in the two key sectors dropped by more than half on a y-o-y basis.
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