Malaysia's economic growth likely gathered pace in the last quarter, driven by stronger demand following a relaxation of COVID-19 measures, but a prolonged slowdown in China could have significant knock-on effects, a Reuters poll found.
Southeast Asia's third-largest economy is predicted to have expanded 4.0% in the January-March quarter compared with the same three-month period a year earlier, according to the median forecast of 18 economists, faster than the 3.6% increase in the preceding quarter.
"Relaxed virus containment measures helped by high vaccinations despite the Omicron wave translated to an uptick in services activity." Demand for Malaysian palm oil is set to rise after top producer Indonesia temporarily banned shipments last month in a bid to tame soaring domestic cooking oil prices.Malaysia's economic performance has improved sharply on stronger commodity prices and domestic demand and still-buoyant exports are expected to help drive growth this year and next.
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