Malaysia economy grows at fastest pace in two years
Posted by on Sat, May 20 2017 04:51 am
AFP, Kuala Lumpur :
Malaysia's economy grew at its fastest pace in two years during the first quarter, the central bank said Friday, boosted by stronger domestic demand and a pick-up in exports.
Southeast Asia's third-biggest economy expanded 5.6 percent on-year in January-March period, compared with 4.1 percent in the same period last year and 4.5 percent in October-December.
The result-much better than the 4.8 percent forecast in a survey by Bloomberg News-marks the third consecutive quarter of improving growth and is the fastest since the start of 2015.
"It's a lot stronger than expected and it was partly due to a rebound in exports and commodity prices," said Song Seng Wun, an economist at CIMB Private Banking.
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