# Ringgit, Debts To Slow Down Spending, Says HSBC

> HSBC forecasts Malaysian consumption growth will slow from 5.6% in 2016 to 3.7% in 2017, citing weak wages, rising unemployment and high household debt. The economist also warned that a soft ringgit could depress consumer confidence.

- Date: 2017-02-03 · published 2017-02-03T12:00:00.000Z
- Category: macro · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/72762-ringgit-debts-to-slow-down-spending-says-hsbc
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md), [Chicken](https://feedsoft.ai/c/CHICKEN.md)

## Why it matters

Slower domestic consumption reduces demand growth for meat and feed in Malaysia, a modest bearish signal for feed demand.

## Read by commodity

- USDMYR: neutral
- CHICKEN: bearish ▼

## Sources

- imoney.my: https://www.imoney.my/articles/consumption-drop-3-6-predicts-hsbc

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.