Malaysia GDP growth to hit 4.7% in Q4

The construction sector will receive a boost as the government's resumes infrastructure spending.

Malaysia's economy is projected to expand 4.7% YoY in Q4 2018 from 4.4% growth in the previous quarter amidst steady expansion from the service and manufacturing sectors, according to UOB Kay Hian.

Also read: Malaysia's economic growth moderates to 4.4% in Q3

The country’s construction segment, in particular, will be supported by the resumption of government spending whilst the mining sector will see gains from crude petroleum and gas production.

On the other hand, agriculture could deteriorate further as CPO output and regional growth trends have softened at the end of 2018.

“[T]here is renewed caution on the global economy amidst weaker corporate earnings and slower manufacturing activity, the lack of clarity on US policy and lingering trade tensions between US and China. The prolonged uncertainty would dampen consumer and business sentiment and thus pose downside risks to growth,” Julia Goh, senior economist of UOB Kay Hian said in a report.