GDP shrank 4.5% in 3Q but economy on recovery mode in 4Q and next year

Bank Negara Governor Datuk Nor Shamsiah said “Progressive lifting of containment measures and continued improvements in the labour market will be key to support the recovery going forward”.

KUALA LUMPUR: Malaysia’s economy shrank by 4.5% in the third quarter ended Sept 30, 2021 compared with a 16.1% expansion in the second quarter but the economy is on a recovery trajectory in the fourth quarter and extending into 2022.

Bank Negara Malaysia said on Friday the Malaysian economy is expected to improve following the normalisation of economic activities. For 2021, the domestic economy is on track to expand by between 3% and 4%.