What are the expected contractions in Malaysian GDP for 1Q21 and 2Q21?

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Expected GDP Contractions for 1Q21 and 2Q21

The Malaysian economy is projected to experience a contraction in Gross Domestic Product (GDP) for the first quarter of 2021 (1Q21), followed by a slight recovery in the second quarter of 2021 (2Q21). Specifically, headline GDP growth is anticipated to contract by 6.2% in 1Q21. This is expected to be followed by a modest bounce to 0.5% growth in 2Q21.
1Q21 GDP Forecast

For the first quarter of 2021, the overall GDP growth is expected to contract significantly. This forecast reflects ongoing economic challenges during this period.
2Q21 GDP Forecast

The second quarter of 2021 is projected to show a modest improvement compared to the preceding quarter. The anticipated growth rate for 2Q21 stands at 0.5%.
Private Consumption Outlook

In parallel with the headline GDP figures, real private consumption is also forecasted to contract in the first half of 2021. It is expected to shrink by 1.7% in 1Q21 and by 2.1% in 2Q21. This indicates that consumer spending is unlikely to rebound to pre-pandemic levels within 2021.

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What are the expected contractions in Malaysian GDP for 1Q21 and 2Q21?

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