PETALING JAYA: Malaysia is expected to see another dip in economic growth in the third quarter, with a technical recession likely to extend to the final three months of the year due to the ongoing conditional movement control order (CMCO).
According to CGS-CIMB Research, the country’s gross domestic product (GDP) is projected to decline 3.5% in the three months to September. This followed a 17.1% lockdown-inflicted contraction in the second quarter, thus confirming a technical recession, which is defined by two consecutive quarters of negative growth.