Friday, 15 Nov 2019 05:17 PM MYT
The economy shrank by 3.2 per cent in July-September from the previous quarter on a seasonally adjusted basis, revised government data showed, in line with a preliminary reading. From a year earlier, the economy contracted 2.9 per cent, also in line with the preliminary reading. The readings were the weakest since the global crisis.
“Ending violence and restoring calm are pivotal to the recovery of the economy. The government will continue to closely monitor the situation and introduce measures as necessary to support enterprises and safeguard,” the government said. August retail sales were the worst on record — down 23 per cent from a year earlier — while September’s plunged 18.3 per cent.
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