The country is on track to achieving full-year growth of between 4.8% and 5.3%: central bank governor
[KUALA LUMPUR] Malaysia’s economy expanded at a slower pace at 5.3 per cent year on year (yoy) in the third quarter, supported by strong investment and improving exports, said Bank Negara Malaysia on Friday (Nov 15).
The final figure aligned with the forecast of 5.3 per cent by 25 economists in a recent Reuters poll and the official advance estimate, but is lower than the 5.9 per cent from the previous quarter.
Mohd Uzir Mahidin, chief statistician at the Department of Statistics Malaysia, noted that robust investment was supported by significant spending on structures and machinery equipment, while household spending continued to grow.
Copyright The Business Times. All rights reserved.
