Analysts: Consumers still cautious about spending

Petaling Jaya: Malaysians are likely to change their lifestyle and spending patterns given the uncertain impact of the global economic slowdown. Analysts said consumers would likely remain cautious next year. OSK Research said although the Kuala Lumpur Composite Index had reflected the US financial turmoil and the global economic slowdown, the full impact of a slowing economy had yet to hit the man on the street. “We believe the true impact will hit Malaysian shores by January as exporters clear off their previous order books and new orders are...

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The 2009 world outlook by region

By ELAINE KURTENBACH SHANGHAI, China (AP) - The debate is over. Slumping exports and surging unemployment, even in powerhouse China, have ended any question over whether Asia could shrug off the pain inflicted by the global financial crisis. But while the outlook for the first half of the year is gloomy, economists say the latter half of the year promises at least some recovery. China's 2008 is ending with a whimper, with fourth quarter growth forecast to drop to as low as 2 percent from nearly 12 percent in 2007 as exports stall. India, Asia's...

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