Malaysia's GDP Growth Surprises as Recovery Accelerates [Financial Post (Toronto, Ontario, Canada)]
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Source: Financial Post
You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Malaysia's economy grew faster than initially estimated in the first quarter, driven by private spending and a rebound in exports. Gross domestic product expanded 4.2% in the January-March period, according to Malaysia's central bank and statistics department in a joint briefing Friday. That's higher than the 3.9% advance estimate as well as the median forecast in a Bloomberg survey. On a sequential basis, the economy grew 1.4% from the previous three months. Article content Article content While strong services sector and manufacturing output helped drive the economy, a better than previously expected out-turn in farm and construction segments contributed to lifting overall growth. Forward-looking indicators point to continued growth for the Malaysian economy, Bank Negara Malaysia Governor Abdul Rasheed Ghaffour said at a briefing in Kuala Lumpur. He expects consumer
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