Quarterly GDP growth likely within market consensus

AmBank Economic Research expects the quarterly GDP figures to be in the range of 3.9% to 4.4%. — Bloomberg

KUALA LUMPUR: Signs are pointing to a lower gross domestic product (GDP) number for the second quarter of this year (2Q23) but the economy is expected to be supported by domestic consumption, according to economists.

The improvement in the labour market, as reflected by the decline in the unemployment rate to 3.4% in June from 3.6% in January, would also offer a substantial buffer to offset the cyclical weakness in external demand, they said.