Malaysia reports final figures for third-quarter gross domestic product on Friday, Nov. 15.
The economy could grow nearly 5% this year if the third-quarter performance turns out as strong as BofA Securities economists expect. They think final figures will show a slight upward revision to 5.4% versus advance estimates of 5.3% due to an adjustment in services output. If that estimate holds, Kai Wei Ang and Rahul Bajoria reckon full-year GDP growth could reach 4.9%. That would compare with 3.7% in 2023.
UOB economists expect the Southeast Asian country's growth in the quarter to have been primarily supported by manufacturing production, robust construction and resilient service activities.
HONG KONG
Hong Kong is set to report its final third quarter gross domestic product data on Friday, Nov. 15.
Advance data show that GDP grew 1.8% in real terms in the third quarter from a year earlier, compared to 3.2% in the second quarter. This marked a significant slowdown amid continued softness in demand both at home and abroad.
Nomura analysts have cut their full-year forecast for the city to 2.5% from 3.3% due to the downside surprise in the third quarter. They expect external demand to remain subdued for the rest of the year, and flag risk from Donald Trump's re-election, which could potentially ratchet up trade tensions, creating new uncertainties.
- Additional reporting by Megumi Fujikawa, Xiao Xiao, James Glynn, Kimberley Kao, Amanda Lee, Ronnie Harui, Ying Xian Wong, Emese Bartha and Miriam Mukuru
Write to Jessica Fleetham at jessica.fleetham@wsj.com and Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com
(END) Dow Jones Newswires
11-10-24 1914ET
