World Economy

Malaysia Growth Slows

Malaysia Growth SlowsMalaysia Growth Slows

Malaysia’s economy expanded in the first quarter at its slowest rate since the global financial crisis, data showed Friday, as the energy-exporting country grapples with falling oil prices and weak overseas demand, AFP reported. Growth came in at 4.2% on-year in January-March, beating a 4% median estimate in a Bloomberg News survey. But it was the fifth straight quarter in which the rate of expansion slowed, and the result could put pressure on policymakers to kickstart the struggling economy. A central bank official said it was the slowest rate of growth since the economy contracted 1.1% in the third quarter of 2009. Malaysian gross domestic product grew 4.5% in the final three months of 2015.