';
Views Article – Sharenet Wealth

Asia, Forex

Malaysia’s economy grows 4.9% y/y in Q2, faster than forecast

KUALA LUMPUR, Aug 16 (Reuters) – Malaysia’s economy grew 4.9% year-on-year in the second quarter, the central bank said on Friday, making it the first major Southeast Asian economy to report an acceleration from January-March.

Gross domestic product (GDP) growth in the second quarter beat the 4.8% rise forecast in a Reuters poll, and was quicker than the 4.5% annual pace in the first three months of 2019.

The central bank maintained its full-year growth target of 4.3-4.8%, but said an escalation in global trade tensions could knock 0.1 percentage point off GDP growth.

The current account surplus narrowed to 14.3 billion ringgit ($3.42 billion) in the second quarter, from 16.4 billion ringgit in the first quarter.

($1 = 4.1820 ringgit) (Reporting by Joseph Sipalan; Writing by Rozanna Latiff; Editing by Richard Borsuk and Sam Holmes)


© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters or its third party content providers. Any copying, republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.