Quantity Surveying and Construction Procurement: Malaysia (and construction) is out of the recession

Welcome to Quantity Surveying and Construction Procurement

Assalamualaikum and dear all,

This blog compliments teaching and learning for courses that I facilitate at the International Islamic University Malaysia (IIUM). The contents serve to further 'connect' students to the 'real world' (quantity surveying, construction procurement and others). In trying to provide current information to students, I will be quoting or reproducing works of others and for this I am grateful. I will indicate clearly the source(s). I hope I will not offend anyone; and many will frequent this blog and benefit from its contents.

Thank you and wassalam.

Prof. Sr. Dr. Khairuddin Abdul Rashid

Friday, February 26, 2010

Malaysia (and construction) is out of the recession

Salam and dear all,

Recent media reports pointed out that Malaysia is out of the recession.
According to the government, Malaysia's GDP for the 4th quarter of 2009 grew 4.5% (the GDP suffered contractions during the first 3 quarters).
The GDP for 2010 is predicted to grow at 5%.
The positive outlook is due to a combination of local and external factors especially the government's effort in promoting efficiency via the GTP, NKRAs and KPIs initiatives; the 2 economic stimulus packages amounting to RM67b; the yet to be announced 10th Malaysia Plan and the New Economic Model (NEM). External factors include improved economic situations in Malaysia's key trading partners (US5.7%, Japan 4.6%, Vietnam 6.5%, Singapore 4.0%).
Leading the positive growth is the construction sector with 9.2% (Q3=7.9%) largely due to the government's RM67b stimulus packages.
Other sectors: agriculture 6% (Q3=-0.5%), manufacturing 5.3% (Q3=-8.6%), services 5.1% (Q3=3.4%), mining -2.8% (Q3=-3.5%).
Sources: online media reports, 25th and 26th February, including Bernama, The Star and My Sinchew.

Wassalam.

1 comment:

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