53427
Malaysia Economy Grows 4.3%
Malaysia Economy Grows 4.3%

Malaysia Economy Grows 4.3%

Malaysia Economy Grows 4.3%

Malaysia’s economy expanded at a better-than-forecast pace in the third quarter, snapping five straight quarters of slowing, the central bank said, AFP reported. Bank Negara said gross domestic product grew 4.3% in July-September, faster than the 4% predicted in a Bloomberg News poll as private domestic consumption offset weak government spending. However, it warned of further economic headwinds ahead. “Overall, while domestic conditions remain resilient, uncertainties in the external environment may pose downside risks to Malaysia’s growth prospects,” the central bank said. Energy-exporting Malaysia has the third-largest economy in Southeast Asia, but has been grappling with falling oil prices and weak overseas demand. Growth in the second quarter of this year was 4%, the slowest since 2009. The country has also been rocked by a massive financial scandal centering on allegations that billions of dollars were stolen from a state investment fund overseen by Prime Minister Najib Razak, who denies wrongdoing. In July, Malaysia unexpectedly cut interest rates for the first time in seven years to help spur growth.

 

Short URL : https://goo.gl/nXrqk7
  1. https://goo.gl/f6dUmW
  • https://goo.gl/4yGRcC
  • https://goo.gl/XC3RA8
  • https://goo.gl/uuhkPN
  • https://goo.gl/Xko6ux

You can also read ...

BMW Seeking Broader China Collaboration
The opening-up is an important policy and German carmaker BMW...
Argentina Lacks Options to Defend Peso
With interest rates sky-high and the economy heading for...
Westinghouse Electric, the leading US nuclear fuel producer, said it relies on China for zirconium and zirconium powder  for use in nuclear fuel assemblies
A broad cross-section of US businesses has a message for the...
Vehicle loans have rapidly expanded as cars purchased during a tax rebate scheme for first cars  in 2012-13 have begun to be replaced.
Consumer borrowing is accelerating significantly in Thailand...
Turkey, Qatar in Currency Swap Deal
The central banks of Qatar and Turkey signed a currency swap...
Asian Countries Vie to Set Up Crypto Valleys
The race to establish cryptocurrency hubs in Asia is gathering...
International Labor Organization has called for stronger...
UK Business Pessimism Rising
Business leaders’ confidence in the British economy has fallen...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus