MALAYSIA’S Q1 GDP GROWTH SLIDES, BUT TIPPED AT 5.5% FULL-YEAR

KUALA LUMPUR – ANZ Bank is holding its full-year 2013 GDP growth forecast for Malaysia at 5.5% on-year, despite GDP underperforming in Q1 (easing to 4.1%). ANZ says domestic demand growth is expected to accelerate further into Q2 and Q3 following the election result and a further push of large-scale investment projects. “Indeed, robust real import figures in March and the expansion of real money supply during the same month suggest momentum into Q2 has picked up,” ANZ says. The bank also expects Malaysia’s current account to be cyclically lower over the coming quarters.