The past week has brought further bad news on the trade front, with more countries reporting a decline in exports. A turn in the electronics inventory cycle, the trade war and weaker global demand are the three main factors behind the recent slump in Asian exports.
Meanwhile, the recent bout of deflation in Malaysia is due to a couple of one-off factors, and is nothing to worry about. We expect deflation to come to an end soon, and for inflation to reach about 1% by the end of the year.
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