News Bits | 19 Nov 2012

Highlights of the day

§  Economics (Gross Domestic Product): 3Q2012: GDP growth slower but it is surprisingly strong still [download report]

The real gross domestic product of Malaysia grew at surprisingly strong rate of 5.2% y-o-y in 3Q2012 after growing at the revised rates of 5.1% y-o-y and 5.6% y-o-y in 1Q and 2Q respectively. The real GDP for 1Q and 2Q were previously estimated to have grown by 4.9% y-o-y and 5.4% y-o-y respectively. The growth was driven by domestic demand in time when the external environment was extremely weak. Both gross fixed capital formation and consumption growth were the primary drivers of domestic demand growth. On the supply-side, expansion of services supported overall growth. We upgrade our real GDP growth projection for the year 2012 to 5.2% y-o-y from 4.6%. We maintain our 2013 real GDP growth rate projection at 5.2%.

 

§  Economics (Leading Economic Indicator): September 2012: The economy may continue to grow [download report]

Malaysian leading indicator for September grew by 1.4% y-o-y after a 2.0% growth in August 2012. The leading indicator continues to suggest the economy is set to grow in the near future. The coincident indicator strengthened to confirm that the economy began to firm up in late 3Q as observed in the industrial production and export figures in the month of September.

 

Other reports

§  Newz Bits [download report]

 

Other Malaysian news

§  Astro: Gets summons from Indonesia’s PT Direct Vision

§  Scomi Engineering: To bid for two more Brazil monorail projects

§  Plantation: Tax could have contagion effect

§  Economy: Malaysia liberalises 6 more sub-sectors

§  Economy: More high-impact projects unveiled

 

Global news

§  US: Sandy cuts output while overseas demand cools

§  Europe: Spain deepens EU budget deadlock as Rajoy spars with Van Rompuy

§  China: Home prices gain in half cities tracked as market steadies

§  Singapore: Singapore sees 2012 growth at low end of forecast on exports

§  Hong Kong: Growth trails estimates as city cuts 2012 outlook

 

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