Monday, 22 June 2009

Malaysia's GDP Revised to around -4% and -5% from -1% and 1%

Update 23 June 2009: World Bank said that our real GDP (whatever "real" means) this year is expected to fall by 4.4% before recovering to 2.2% next year and 5.3% in 2011.

Looks like our government could not hide it any longer - finally revising our Gross Domestic Product to between -4% and -5% from the previous range of -1% to 1%. Meanwhile, our country's Industrial Production Index for April 2009 contracted, though better than estimates, by as much as 11.4%.

All these in the midst of rising Influenza A (H1N1) infections and confusing on-off talks between opposition and ruling government of a unity government.

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