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Malaysians will spend less in 2017: expert

Malaysians will spend less in 2017 due to increasing price and economic uncertainties, the local news website Freemalaysiatoday reported on February 3, quoting the latest HSBC Global Research.
Malaysians will spend less in 2017: expert ảnh 1HSBC Economist Lim Su Sian (Photo: freemalaysiatoday.com)

Kuala Lumpur (VNA) – Malaysians will spend lessin 2017 due to increasing price and economic uncertainties, the local newswebsite Freemalaysiatoday reported on February 3, quoting the latest HSBCGlobal Research.

Accordingly, private expenditure in Malaysia is expected todrop to 3.7 percent in 2017 from the last year’s 5.6 percent.

Unemployment rate in the Southeast Asian country rose to 3.6percent at the end of last December, compared to the average of 3.1 percent between2011 and 2015, said HSBC economist Lim Su Sian.

Malaysian households still have to work hard in 2017 to paydebt equivalent to nearly 90 percent of the gross domestic products (GDP) – thehighest not just in ASEAN, but also in Asia.-VNA

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#private expenditure#Unemployment rate#HSBC Global Research
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