RHB Research sees modest recovery in 2H amid MCO 3.0

“The movement control order 3.0 (MCO 3.0) is a temporary setback, however the path of 2H21 headline GDP and private consumption GDP growth will be more modest compared to our earlier assessment, ” it said.

KUALA LUMPUR: RHB Economics Research is maintaining its 2021 GDP growth forecast at 5.4% YoY versus the -5.6% contraction last year, despite the full lockdown to be imposed as of June 1,2021.

In its outlook report on Monday, it said its 2021 private consumption GDP forecast is maintained at 7.0% YoY versus the 2020 reading of -4.3%.