, Malaysia

Malaysia suffers MYR7.5b deficit

That's even amid a robust portfolio investment.

According to OCBC, Q3 GDP posted strong growth of 5.2% yoy with the full year GDP growth likely to hit above 5% yoy. Q2 GDP has also been revised up to 5.6% yoy from the previously announced 5.4% yoy.

Here's more from OCBC:

Investment growth remains running faster than 20% yoy in the period, as the government continued to frontload its ETP-related projects in the country.

Q3 BOP has seen a deficit of MYR 7.5bn despite portfolio investment recording a robust MYR 27.6bn in total inflows. The main drag came from the other investments component of the financial account.

September export and import growth came in better than expected at 2.6% yoy and 9.6% yoy respectively, leading to a trade surplus of MYR 6.5bn. Meanwhile, October inflation came in at 1.3% yoy, just a tad lower than our forecast of 1.4% yoy.

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