"Malaysia's first quarter 2011 Gross Domestic Product (GDP) results shown private consumption rose by 6.7 per cent year-on-year," said Kow. "Increased private sector investments and government consumption were also key drivers behind the 6.6 per cent growth in overall domestic demand. It is believed that the projects under Economic Transformation Programme [ETP] would also boost the business confidence and sustain the strength of private investments which have also led to the optimism towards job prospects moving forward."
"As a result, Malaysians were more positive towards the recovery of the economy," he said. "Some 55 per cent of online consumers surveyed felt that the nation is not in an economic recession, compared to 49 per cent a quarter ago. While 27 per cent of respondents who believe the country is still in recession anticipated that the recession would last for another 12 months. The improved sentiments amongst its netizens have positioned Malaysia as the 9th most optimistic country globally in terms of consumer's economic outlook."
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