KUALA LUMPUR, Oct 19 — China’s gross domestic product (GDP) growth in the third quarter (3Q) of this year signalled that its economic recovery is gaining traction, and this will support the trade outlook for Malaysia, said MIDF Research.
In a note today, it said China’s 3Q GDP data which grew 4.9 per cent in July to September from a year earlier was better-than-expected and further recovery will benefit its trading partners.
“In addition to improvement in external trade, we opine that China can still achieve its annual growth target of 5.0 per cent this year given the stronger-than-expected growth in the third quarter.
“We believe trading regional countries will benefit from the pick-up in demand from China, which will also support trade outlook for Malaysia,” it said.
Nevertheless, MIDF Research said it remained cautious that the ongoing challenges in the property market will be one of the downside risks which could affect China’s near-term growth outlook.
— Bernama
