Looking ahead

Looking ahead - Hello loyal readers FeedGoogle, In the article you are reading this time with the title Looking ahead, We have prepared this article well for you to read and take information in it. hopefully the contents of the post Article Malaysians, what we write you can understand. Alright, happy reading.

CLICK TO ENLARGEPETALING 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. Indonesia reported a 2.19% y-o-y GDP contraction in the October-December 2020 period, while the Philippines’ economy suffered a 8.3% y-o-y decline in GDP.

Meanwhile, Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid expects Malaysia’s GDP to shrink by 3.1% y-o-y in the fourth qua…