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Malaysia’s economic growth slows amid exports slump

Malaysia’s economic growth slows amid exports slump


Malaysia’s economy expanded 4.5 per cent in the first quarter of 2019 from a year earlier, slowing from 4.7 per cent in the previous three-month period, as exports face a slump amid ongoing US-China trade tensions. The latest figure beat economist forecast’s median estimate of 4.3 per cent as compiled by Reuters.

Malaysia’s growth rate hit a recent peak of 6.2 per cent in the July-September quarter of 2017, but after that its pace slowed until it marked an increase in the October-December 2018 period, due to the new government’s review of big projects as well as global trade uncertainties.

According to a recent announcement released by Bank Negara Malaysia, the central bank, private sector consumption and investment grew 7.6 and 0.4 per cent, respectively, in the January-March quarter. In the public sector, consumption grew 6.3 per cent, while investment declined 13.2 per cent.