Pandemic clouds second half outlook

The research unit of Fitch Ratings based its revision for its forecast on the country’s second quarter GDP performance, which contracted by 2% quarter on quarter (q-o-q), despite growing 16.1% year on year (y-o-y).

PETALING JAYA: Fitch Solutions has cut its 2021 forecast gross domestic product (GDP) growth for Malaysia to zero from 4.9% as it felt the third wave of Covid-19 infections will disrupt the country’s economic recovery.

The research unit of Fitch Ratings based its revision for its forecast on the country’s second quarter GDP performance, which contracted by 2% quarter on quarter (q-o-q), despite growing 16.1% year on year (y-o-y).