Malaysia’s economy shrank by 17.1% year-on-year in the second quarter (Q2) of 2020, the first contraction since the third quarter 2009, and the steepest fall since the fourth quarter of 1998, reflecting the negative impact of measures taken both globally and domestically to contain the spread of the COVID-19 pandemic. On a seasonally adjusted quarterly basis, the economy shrank by 16.5%, the most contraction since the series began in the second quarter 2000.
