KUALA LUMPUR: RHB Banking Group has revised its forecast for Malaysia’s Gross Domestic Product (GDP) this year to 5.4 per cent from 6.3 per cent, reflecting a more conservative growth outlook amid the re-imposition of the Movement Control Order (MCO 2.0).
The group’s base scenario assumed MCO 2.0 would run for four weeks, chief economist and head of market research Dr Sailesh Kumar Jha said.
"Private consumption is projected to be the most impacted by the MCO 2.0 restrictions whereby retail activity is likely to see a decline judging by the drastic drop in the mobility index.
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