NUMBERS, they say don’t lie. But at the same time, they do not paint the true picture as far as economic growth is concerned.
Malaysia’s gross domestic product (GDP) barely stayed above water – registering a growth of 0.1% in the fourth quarter of 2008.
Although technically we are not seeing a negative growth for the quarter, for a small economy such as Malaysia, any GDP growth of less than 1% is as good as a negative growth.
Many are expecting a pick-up of economic activities in the late second half, meaning we could still register a marginal growth for 2009.
But the GDP numbers do not paint the true picture in terms of its effects on the [person] on the street. The slowdown this time will affect the [person] on the street.
Read more here.
This article first appeared on 5 March 2009 in The Edge Financial Daily under the title GDP numbers don’t tell full story. Used with permission.