Malaysia’s Q2 GDP posts largest growth in over 2 years
The unexpected growth in economy at 5.8% followed a 5.6% rate recorded in Q1 of this year and beat the previous expectations for a growth of 5.4%. It was attributed to rising consumer demand and revived manufacturing in the country.
Consumer spending surged 7.1% in the second quarter from a year earlier, the data revealed, while investments expanded 7.4% from a year earlier. Exports of Malaysia were up by 9.6% while imports climbed 10.7% in the second quarter.
Services sector posted an increase of 6.3% while manufacturing growth was up by 6% in the period year on year. The agriculture sector also grew 5.9%.
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