KUALA LUMPUR, Aug 10 (Bernama) -- MIDF Research has maintained its gross domestic product (GDP) growth target for this year at 4.8 per cent with the downside at 4.5 per cent given the increase in imports and exports activities in the second quarter.
In a note today, MIDF Research said imports grew by 9.1 per cent in second quarter from 7.6 per cent in first quarter, suggesting that domestic activities in second quarter should be much stronger.
It said second quarter exports were higher compared with the previous quarter.
"Given this scenario, the second quarter real GDP is expected to be much stronger compared with the first quarter," it said.
The research house said domestic-led manufacturing activities remained strong boosted by construction and consumer-led activities.
"The on-going Economic Transformation Programme and 10 Malaysia Plan projects will remain favourable to the construction sector with the beneficiaries most likely be non-metallic mineral products, iron and steel products and fabricated metal products," it said.