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Malaysia’s economy shrinks 4.5% as Q3 worse than forecast -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Construction workers work in Kuala Lumpur during the coronavirus pandemic (COVID-19), on September 27, 2021. REUTERS/Lim Huey Teng

KUALA LUMPUR, (Reuters) – Malaysia’s economy contracted again in the third quarter. It fell 4.5% compared to a year ago, according to the central bank. This was due to new COVID-19 locks that were placed during this period, which impeded recovery.

Reuters surveyed economists and they expected that the economy would fall after rebounding in the second quarter. Their median prediction was for a contraction rate of 1.3% during the July-September period. However, estimates vary widely.

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