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Slower Growth in Malaysia

Malaysia, one of bright economic engines in the Asia pacific is showing signs of weakness. Second quarter GDP was below estimates. The Malaysian economy only grew by 4.3 %, which was mostly lead by government spending. Estimated projected growth was near 4.45%. Exports suffered the biggest decline at 5.2%. Tapering talk in the U.S. is having negative effects on the country’s currency, the ringgit, which is at a three low against the dollar.

Malaysia is a major exporter of commodities to Europe and China, whose are
also facing economic headwinds. Weaknesses in those economies are obvious
causing a deceleration in the price of commodities. The central bank has cut the full-year growth of the country.

 (Image source: Asianinfo)