(MENAFN) Malaysian economy is growing faster than expectations in Q2, mainly the fast growth are contributed to stronger consumer spending and a pick-up in manufacturing.
Bank Negara Malaysia reported that gross domestic product (GDP) rose by 5.8% from a year earlier, after 5.6% posted in Q1, and the media estimate was of 26 economists surveyed by Bloomberg was 5.4%, however; it increased 1.3% from the previous three months on seasonally adjusted basis.
In more than two years, Malaysia's economy is gaining momentum as its growing at the fastest pace, and outperforming its peers in the region helped to keep its manufacturing industry competitive.
However, the World Bank raised growth forecast in June by the most in East Asia, forecasting 4.9% expansion this year.
MENAFN2008201700450000ID1095750787
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.