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Malaysia's GDP grows fast to 5.8% in Q2
(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.
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.
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