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Malaysia’s GDP growth in Q2 higher than expectation

Malaysia’s gross domestic product (GDP) grew 4.9 percent year-on-year in the second quarter of 2019, compared to the 4.5 percent growth recorded in the first quarter of this year.
Malaysia’s GDP growth in Q2 higher than expectation ảnh 1(Source: https://www.straitstimes.com)

Kuala Lumpur (VNA) - Malaysia’s gross domesticproduct (GDP) grew 4.9 percent year-on-year in the second quarter of 2019,compared to the 4.5 percent growth recorded in the first quarter of this year.

Speaking to the local media on August16, Bank Negara Malaysia Governor Nor Shamsiah Mohd Yunus said the positivegrowth was supported by strong performance by the majority of sectors.

The mining sectorexpanded 2.9 percent year on year, while services and construction grew 6.1 percentand 4.3 percent, respectively.

However, the agriculturalsector saw lower rise at 4.2 percent compared to 5.6 percent of the secondquarter in 2018.

Household spending and privateinvestment in the second quarter of 2019 were higher than expectation. Togetherwith higher net exports, these were important factors helping the country’s GDPexpanded strongly in the period.

Moving forward, Nor Shamsiah saidoverall, the baseline projection is for the Malaysian economy to grow between4.3 percent and 4.8 percent in 2019. But she added that the economy is stilllikely to continue to be affected by slower global growth amid ongoing tradetensions.-VNA
VNA
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