Data shows the smaller contraction was supported mainly by improvement in domestic demand and continued support from better external conditions.
PETALING JAYA: Malaysia’s gross domestic product contracted by 0.5% in the first quarter of the year, the statistics department announced today. At a press conference today, chief statistician Mohd Uzir Mahidin said this was a “better-than-expected” performance despite the implementation of the second movement control order in January.
“This smaller contraction was supported mainly by improvement in domestic demand and continued support from better external conditions. “These factors more than offset the impact from labour shortage and site shutdowns due to Covid-19 outbreaks,” he said.
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