Afternoon Highlight (15/12/11/209/518) Malaysia exports in Oct increase 15.8pc

Malaysia exports in Oct increase 15.8pc

MALAYSIA'S exports and industrial production growth posted a better-than-expected performance in October, up 15.8 per cent year-on-year (Y-O-Y) and 2.8 per cent Y-O-Y respectively, despite the slowdown in global trade.HSBC Global Research said the October trade and industrial production numbers showed that economic activity has moderated and has proved to be more resilient than anticipated."So far, commodities have held up the flag on the export side, countering the falling external demand for electronic products," HSBC Global Research said in a note yesterday.Looking ahead, it said the global slowdown will continue and broaden with the protracted sovereign debt crisis in the eurozone expected to remain a drag on global trade.
However, solid domestic demand is expected to cushion against the slowdown spilling over through the external channel.The research house said Bank Negara Malaysia's move to keep on hold any changes to rates has been also justified with the better exports and production figures."This, however, may change if the global weakness lingers," it added. Bernama
Source : Bernama
Date : December 2011
Afternoon Highlight (15/12/11/209/518)