Analysis by Region - Asia Pacific - Malaysia
We have raised our 2022 GDP growth forecast by 1.3ppt to 7.2% following a 1.3% q/q rise in Q1 GDP and evidence of a faster-than-anticipated recovery in domestic demand. Boosted by stronger tourism following the reopening of borders on 1 April, we expect services to offset a moderation in manufacturing and exports growth, due to the fallout from Russia’s invasion of Ukraine and Covid lockdowns in China. We look for GDP to grow by 4.2% in 2023.
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