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NEWS UPDATES 20 March 2010

Malaysia PM sees healthy growth for car industry

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The Malaysian automotive industry is expected to see a healthy growth this year in tandem with the positive growth in gross domestic product (GDP) estimated at five to six per cent this year, national news agency Bernama quoted Prime Minister Najib. Tun Razak as saying.

He said this when officiating the new Audi showroom and launch of its Audi 1 model Thursday.

The Malaysian economy registered a positive GDP growth of 4.5 percent in the fourth quarter of 2009, amid strengthened domestic and external demand, but the entire year's growth contracted 1.7 per cent.

The government had earlier projected a contraction of three percent in GDP for 2009. In 2008, Malaysia's GDP growth was 4.6 percent.

Recently Central Bank of Malaysia was reported as saying the recovery in the global economy had improved further in the fourth quarter of 2009.

It said the positive trend is expected to continue in 2010, although the pace of the global recovery is expected to be gradual and uneven.


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