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PETALING JAYA: The Malaysian economy is expected to have an upbeat outlook this year after the Purchasing Managers' Index (PMI) hit 50.0 points in December, the highest in 15 months, says Lim Guan Eng.
KUALA LUMPUR: MIDF Research forecasts a higher industrial production index (IPI) growth of 2.9% for 2020, compared to 2.4% for 2019.
The dollar appreciated 0.63% to 97.45 largely driven by resilient economic data which includes December’s The Institute of Supply Management (ISM) non-manufacturing purchasing managers’ index (PMI) coming in better than expected, accelerating to a four-month high of 55.0 from 53.9 in November (cons: 54.5) supported by higher production and inventories, and rising optimism over a potential trade resolution.
PETALING JAYA: A weaker external trade performance and softer domestic demand growth will be among the main drags on the economy this year as Malaysian Rating Corp (MARC) sees gross domestic product (GDP) growing at 4.3%.
KUALA LUMPUR: Malaysia’s economy is expected to grow at a slower pace of 4.3% in 2020, below the government forecast of 4.8%, according to Malaysian Rating Corporation (MARC).
KUALA LUMPUR: Foreign funds continued to be net buyers on Bursa Malaysia for the third consecutive week, according to MIDF Research.
DESPITE entering the new decade, global risks remain the same as well due to the United States foreign policy in the Middle East.
Amid a truncated week – welcoming a new year and a new decade – the US dollar weakened by 0.08% to 96.846.
HONG KONG: The ringgit, one of 2019’s Asian forex laggards, surprised many traders near the finish line with strong gains in the past week.
PETALING JAYA: Talks of economic slowdown aside, Malaysia’s manufacturing production for December 2019 has shown its best performance in 15 months after steadily rising for four straight months.