Ripples from global events threaten local economy

By Ong Wooi Leng

January 2015 PENANG ECONOMIC OUTLOOK
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Recent economic events, particularly the fall in oil price, are predicted to significantly shade the economic outlook for Penang and for Malaysia at large.The economy of Malaysia – and of Penang – depends to a significant degree on global trends, since both are highly exposed to externalities nowadays. The October 2014 Economic Outlook Update published by the International Monetary Fund (IMF) stated that world output growth is estimated to have remained unchanged for 2014. This is due to a mix...

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Ong Wooi Leng

heads the Socioeconomics and Statistics Programme at Penang Institute. Her work lies in labour market analysis and socio-economic development.

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