Stronger 2Q growth seen

Speaking with StarBiz, Socio-Economic Research Centre executive director Lee Heng Guie projected a “robust GDP growth” of 8.5% in 2Q22. The forecast is based on how Malaysia has performed in terms of industrial production, external trade and retail sales over the recent months.

PETALING JAYA: The country’s economy may have recorded another strong year-on-year (y-o-y) growth in the April-to-June period, potentially surpassing the 5% y-o-y growth rate seen in the first quarter of 2022 (1Q22).

Ahead of the release of the gross domestic product (GDP) figures this Friday, economists when contacted by StarBiz think that strong domestic demand will remain a key driver of growth in 2Q22.