Moderate rebound in H2

TheStar Thu, Jul 08, 2021 09:11am - 2 years View Original


“We still think that private consumption is likely to improve in the third quarter (Q3) onwards. In fact, it is starting to improve in Q2. We are looking at a higher private consumption growth in the second half (H2) (6.7% growth versus 5% in H1), ” said Kenanga Investment Bank Bhd head of economic research Wan Suhaimie Wan Mohd Saidie (pic) said in an online presentation on the research unit’s market outlook for Q3 of 2021.

PETALING JAYA: Malaysia’s economic growth is forecast to rebound at a moderate pace in 2021, with Kenanga Research retaining its 2021 gross domestic product (GDP) forecast at 5% to 6% – which is lower than the government’s 6% to 7.5% forecast, which is expected to be revised downwards.

“We still think that private consumption is likely to improve in the third quarter (Q3) onwards. In fact, it is starting to improve in Q2. We are looking at a higher private consumption growth in the second half (H2) (6.7% growth versus 5% in H1), ” said Kenanga Investment Bank Bhd head of economic research Wan Suhaimie Wan Mohd Saidie (pic) said in an online presentation on the research unit’s market outlook for Q3 of 2021.

Wan Suhaimie said based on the research unit’s internal model, the number of daily new Covid-19 cases could drop to the three-digit level by September, and Malaysia could achieve the 80% herd immunity target in December, as the government accelerated its vaccination programme coupled with strict standard operating procedure (SOP) compliance.

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