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Financial News: Malaysia's Growth Accelerates In Q2

Malaysia's Growth Accelerates In Q2

08/16/2019 - 00:23:00 (RTTNews)

(RTTNews) - Malaysia's economic growth accelerated in the second quarter on domestic demand, data from the Bank Negara Malaysia showed Friday.

Gross domestic product grew 4.9 percent year-on-year, faster than the 4.5 percent expansion seen in the first quarter. The rate was forecast to improve to 4.7 percent.

On a quarterly basis, GDP expanded 1 percent versus 1.1 percent increase in the preceding period.

Data showed that domestic demand advanced underpinned by household spending and higher private investment.

The current account surplus of the balance of payment remained sizeable at MYR 14.3 billion or 3.9 percent of GNI in the second quarter.

In the second quarter, headline inflation increased 0.6 percent mainly reflecting the lapse in the impact of the GST zerorisation, data showed.

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