Property market is nothing without a growing economy. Measurement of a growing economy? A country’s GDP growth. Rest assured, when the economy is not doing well, there’s no need to try and boost the property market. No one has interest if they do not have secure jobs. It’s best to rent at that time, probably. Based on latest announcement by Bank Negara Malaysia, Malaysia’s GDP growth for Q2 2019 is pretty good. In fact, one word the media used was ‘acceleration.’
Here’s that article in malaymail.com In Q1 2019, Malaysia’s economy grew by 4.5%. In Q2 2019, it grew 4.9%. This is due to the support from higher household spending and private investment. Bank Negara Malaysia governor, Datuk Nor Shamsiah Mohd Yunus said private sector activities remained the key driver of growth with domestic demand up by 4.6 per cent, while private consumption expanded by 7.8 per cent.
She said, “Malaysia’s growth accelerated despite global headwinds, supported by the recovery from commodity supply disruptions and improved performance in the manufacturing and construction sectors.” Core inflation excluding the impact of consumption tax policy changes was unchanged at 1.6 percent. As for the whole of 2019, Malaysia’sGDP is expected to grow between 4.3 percent and 4.8 percent. One major risk to Malaysia’s GDP are that the two largest economies which has yet to achieve any positive outcome from their negotiations thus far. Please do refer to the full Article in malaymail.com
Feeling better with this positive growth in Q2 2019 yeah. Hopefully no one asks me in the near future whether Malaysia will be facing a recession. kopiandproperty.com readers please help to advise all your friends yeah. Singapore had a technical recession expected (read here) but even for them the growth for 2019 is likely to be positive. Let’s hope 2020 will be an even stronger year in terms of GDP growth. Happy understanding that we are not as bad as everyone is still believing.
written on 16 Aug 2019
<Featured Image is courtesy of Stock Photos from patpitchaya>
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