Malaysia charts economic recovery

Encouraging indications: Employees check latex gloves in the watertight test room at a Top Glove factory in Setia Alam, Selangor. The manufacturing sector, as reflected in June 2020’s PMI, recorded its first expansion in 21 months, hinting at green shoots of economic recovery in factory activity.— Bloomberg

WHILE the battle to recover completely from the Covid-19 blues continues, it appears that the worst is over for the Malaysian economy.

With the economy now in the third quarter, experts believe that the severe growth contraction projected for the April-June period – potentially the country’s worst quarterly slump since the Asian Financial Crisis in 1998 - is unlikely to repeat itself in the current and coming quarters.