http://biz.thestar.com.my/news/story.asp?file=/2012/4/17/business/20120417100734&sec=business

MIER: Business, consumer sentiment up in Q1 despite external headwinds

By Fintan Ng

KUALA LUMPUR: The Malaysian Institute of Economic Research (MIER) said the business conditions index and consumer sentiment index increased in Q1 2012 despite the external headwinds.

MIER's executive director Dr Zakariah Abdul Rashid said its survey of consumer sentiment index rose eight points to 114.3 in Q12012 from the previous quarter.

He added the business conditions index reversed from its downtrend in the previous quarter to 116.5 in Q1, 2012.

On the economy, Zakariah said it remained dependent on domestic demand to drive growth as external demand continued to drop especially in the first and last quarters of 2011.

He said GDP growth has been upgraded to 4.2% from 3.7% given the performance of macroeconomic indicators and the expected sustained spending stemming from the 10th Malaysia Plan and the Economic Transformation Programme projects.