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Kuala Lumpur : Office Snapshot - Q2 2013

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Kuala Lumpur : Office Snapshot - Q2 2013

The Malaysian economy continues to expand, with 4.1% GDP growth rate reported in the first quarter of 2013 (4Q12: 6.5%). Domestic demand remained as the key driver sustaining the economy, registering a strong 8.2% growth rate during the review period (4Q12: 7.8%), backed by higher private consumption (1Q13: 7.5%; 4Q12: 6.2%) and double-digit growth rates in the private and public investments at 10.9%and 17.3%, respectively.

On the supply side, the construction sector continued to record the highest growth rate at 14.7%, followed by the agriculture sector (6%), and the services sector (5.9%). Manufacturing activities slowed down to register a mere 0.3% growth rate as the sector was weighed down by weak external conditions, according to the Central Bank of Malaysia. The inflation rate increased slightly to 1.5% during the review period (4Q12: 1.3%), while unemployment rate remained stable at 3.1% (4Q12: 3.2%). On 9 May 2013, the Central Bank of Malaysia continued to maintain the Overnight Policy Rate atan accommodative level of 3.0%.

Source : Cushman & Wakefield

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