Malaysia’s economy fell 17.1% year on year in the second quarter

According to the report, Malaysia’s GDP in the second quarter of this year was 289.6 billion ringgit, compared with 349.2 billion ringgit in the same period last year. During the second quarter, all sectors of Malaysia’s economy except agriculture showed negative growth, especially the construction industry, which fell by nearly 45% compared with the same period last year. < / P > < p > prior to the release of the report, a survey of Malaysian economists showed that the median forecast for economic growth in the second quarter was a year-on-year decline of 10%, and the most pessimistic forecast was that it would decline by more than 13%. But the actual decline is much larger than economists expected. < / P > < p > the National Bank of Malaysia then sharply lowered its forecast for this year’s economic situation, believing that Malaysia’s GDP may decline by 3.5% to 5.5% compared with last year. Novel coronavirus pneumonia and the action restrictions imposed on the outbreak of the disease since March 18th this year have also affected Malaysia’s “overall economic activity”. The

report also considers that the weakening of the world economic environment is also an important negative factor affecting the economy in Malaysia, which is mainly a non oriented economy.