HSBC expect 5.6% growth for Malaysia this year on strong economic recovery

KUALA LUMPUR: HSBC expects the economic recovery in Malaysia to be quite strong this year, with the gross domestic product (GDP) set to expand 5.6 per cent despite the impact of the recent floods in the country.

James Cheo, chief investment officer for Southeast Asia at HSBC Global Private Banking and Wealth, said key drivers to the nation’s growth would be a higher consumption level, an influx of infrastructure spending that has been on hold for the last two years, as well as buoyant foreign direct investment.