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Article: Consumer spending strengthens
- Article from:
- New Straits Times
- Article date:
- February 13, 2007
- Author:
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Rupa Damodaran
New Straits Times
02-13-2007
Consumer spending strengthens
Byline: Rupa Damodaran
Edition: Main/Lifestyle
Section: Business Times
Type: News
CONSUMER spending has strengthened with growth expected to return to a more stable footing this year, says an economist.
"The local economy faces fading downside risks with the consumer spending slowdown past the danger point," Citigroup economist Sim Moh Siong wrote in a report.
He said six months ago, slowing consumer spending had compounded the economy's growth scare.
"Firstly, it cut short the campaign by Bank Negara Malaysia to nudge up interest rates to a more neutral level. Secondly, the authorities kept retail fuel prices steady ...