RHB revise upwards 2022 GDP growth forecast to 8.5%

KUALA LUMPUR: RHB Investment Bank Bhd has revised its 2022 gross domestic product (GDP) growth forecast to 8.5 per cent from an earlier projection of 8.0 per cent after a better-than-expected fourth quarter (4Q) consumer spending and trade performance.

"We expect the GDP growth to expand by 6.0 per cent year-on-year (y-o-y) for 4Q 2022 versus the Bloomberg consensus estimate of 7.0 per cent and 14.2 per cent y-o-y in 3Q 2022,” it said in a note today.