KUALA LUMPUR: The Socio-Economic Research Centre (SERC) has revised its 2019 gross domestic product (GDP) forecast to a range of 4.5% to 4.7% from 4.7% earlier.
SERC executive director Lee Heng Guie (pix) said this is due to expected weakness in exports for the first quarter this year.
“GDP growth is expected to come in at 4.4% for the first quarter. Consumer spending will remain the key driver while exports will be a drag,“ he told reporters at a briefing on SERC’s quarterly economy tracker today.
SERC expects private consumption to grow 6.8% and private investment to grow 4.3% this year while public consumption is expected to grow 1.8% this year.
However, public investment is expected to contract 4.8% this year.