Malaysia's Economy Contracts by 17.1% in Q2 2020
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Malaysia's economy contracted by 17.1% in the second quarter of 2020 compared to the same period the previous year. This contraction is the first since 2009 and the worst since 1998.
Various economic indicators declined drastically due to the lockdown implemented in the country to combat the coronavirus. For example, household consumption recorded a negative 18.5%, while fixed investment fell by 28.9%.
Besides Malaysia, several Southeast Asian countries experienced negative economic growth. Some of them are the Philippines (-16.5%), Singapore (-13.2%), and Indonesia (-5.3%).
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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