PETALING JAYA: The Malaysian economy may have contracted for the third consecutive quarter, even as the country continues to struggle with the restrictive measures implemented to combat the ongoing Covid-19 pandemic.
Ahead of the gross domestic product (GDP) results to be announced on Thursday, a survey by Bloomberg on economists’ forecasts indicates that the GDP could likely decline by 3.3% year-on-year (y-o-y) in the fourth quarter of 2020.
However, economic contraction is prevalent in the region and Malaysia is not the only country trapped in negative growth territory.
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