KUALA LUMPUR: The Malaysian economic growth has surpassed expectations, after a stronger gross domestic product (GDP) growth rate of 4.9% was announced for the second quarter of 2019 (2Q19).
Earlier, a Bloomberg survey of 22 economists expected median GDP growth of 4.7%. The economic expansion in the second quarter was also higher than the 4.5% recorded in 1Q19.
According to Bank Negara Governor Datuk Nor Shamsiah Mohd Yunus, the April to June 2019 saw faster expansion in household spending and slightly higher private investment growth.
Nor Shamsiah said in a media briefing on Friday the 2Q19 GDP growth was supported by continued expansion across all economic sectors, with higher growth rates in the manufacturing, mining and construction sectors.- Bloomberg