KUALA LUMPUR: Malaysia’s economy is expected to grow better in the second-half of this year, driven a steady pick-up in services, mining and construction sectors.
MIDF Research said the overall business performance is projected to improve steadily for the next six months.
“Strong domestic demand and low inflationary pressure are fundamental factors supporting the services sectors,” it said in a research note today.
The research house said the manufacturing sector, which is export-oriented is predicted to experience moderation following the global trade slowdown.
Meanwhile, Malaysia’s leading economic index surged by 2.6 per cent month-on-month (MoM) in April as six out of seven components recorded increases.
The main gains derived from real imports of semi-conductors and real imports of other basic precious and non-ferrous metals.
On an annual basis, the index rebounded by 0.4 per cent from an upwardly revised 1.8 per cent fall in the previous month.