“A resumption of construction work for the East Coast Rail Link, Light Rail Transit 3 and other mega projects should pull productivity growth back up, starting from the third quarter this year,’’ said Pong Teng Siew, head of research, Inter-Pacific Securities.
A period of uncertainty has fallen on emerging markets (EMs) in the wake of less than dovish comments among Federal Reserve officials.
Contrary to expectations for a further pause and a later cut in interest rates, the latest Fed minutes showed possible rate hikes later this year if the US economy remains in good shape.
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