Malaysia's Q4 2021 GDP Forecast to Grow 3.0 Per Cent Y-O-Y

KUALA LUMPUR, Feb 7 (Bernama) -- Malaysia's gross domestic product (GDP) is expected to have grown 3.0 per cent year-on-year in the fourth quarter of 2021 compared with a 4.5 per cent contraction in the prior quarter, Moody's Analytics said. It expects continued strength in exports and a revival in private consumption to have supported Malaysia's final quarter. "Severe resurgence of COVID-19 weighed heavily on the economy through much of last year, resulting in consecutive quarters of contraction as households retreated and private investment took a back seat. "The weakness in domestic demand more than offset the gains from a relatively strong trade position over this period. But domestic conditions improved in the final quarter," it said in its Asia Pacific Economic Preview for the week of Feb 7-11, 2022. It said higher vaccination rates and the easing of restrictions paved the way for a visible turnaround in retail spending since October 2021. -- BERNAMA