Thursday, July 14, 2011

#Flash* Malaysia 1Q economic growth 4.6%, says MIER

KUALA LUMPUR: Malaysia's economic growth in the first quarter of 2011 dipped slightly to 4.6%, with private and public consumption of 6.7% and 6.1% respectively offsetting a 24.2% fall in exports, according to the Malaysian Institute of Economic Research (MIER).

It said the services and manufacturing sectors were the main growth drivers, rising 5.9% and 5.4% respectively.

MIER said the economic growth momentum would probably moderate in 2Q11 on disruptions from Japan disaster, pullback in commodity prices, rising cost-push inflation and higher debt servicing.

It said a rebound was expected in 2H11 due to the reCONSTRUCTION [] efforts in Japan and the implementation of ETP projects.

MIER maintained its earlier growth projection for the country at 5.2% in 2011, before rising to 5.5% in 2012.

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